Yahoo Finance Hydrostor’s Compressed Air Energy Storage Selected as Preferred Option by Transgrid to Provide Back-up Electricity for Broken Hill, New South Wales
Artist Rendering of Silver City Energy Storage Centre
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Toronto, Canada, May 26, 2022 (GLOBE NEWSWIRE) -- Hydrostor Australia Holding Pty Ltd, a subsidiary of Hydrostor Inc. (“Hydrostor”), a leading long-duration energy storage solution provider, today announced that TransGrid, New South Wales’ largest transmission operator, published its Project Assessment Conclusions Report (“PACR”) that identifies the 200MW/1,500MWh Silver City Energy Storage Centre (“Silver City”) as the preferred option to provide back-up power supply for the city of Broken Hill.
Silver City is being developed in partnership with Australian developer Energy Estate, using Hydrostor’s Advanced Compressed Air Energy Storage (“A-CAES”) solution. A-CAES provides equivalent reliability, scale, duration, and operating life as pumped hydro storage, but with greater siting flexibility and utilizing up to 10x less water and 20x less land.
Transgrid’s PACR was based on an assessment of multiple proposed energy storage solutions which concluded that Silver City offered the highest net benefit and reliable clean energy for consumers, with an ability to store up to 200 MW of generation to meet peak demand. Once constructed, Silver City will be one of the world’s largest renewable mini-grids, available to support the National Electricity Market with dispatchable energy services when the grid requires it, as well as unlock renewable energy in the region that is currently being constrained by network capacity limitations.
Transgrid’s Executive General Manager of Networks, Marie Jordan, said: “The preferred long-term solution put forward by Canadian firm Hydrostor is in the long-term interests of electricity customers. As we continue the transition to renewable energy, we must prioritise clean energy solutions, which support the nation’s goal of decarbonization and its leadership in the renewable technology sector.”
Curtis VanWalleghem, Chief Executive Officer of Hydrostor, said: “Transgrid understands the value offered by our A-CAES solution, and we are very pleased to have been selected as the preferred alternative over competing proposals. New South Wales is a global leader with its clean energy policy and net zero ambitions and we are looking forward to commencing our first A-CAES project in Australia.”
Tom Kennedy, Mayor of Broken Hill, said: “This project has the potential to provide immense benefit to Broken Hill’s economy and grid reliability, and aligns with Council’s own strategic direction of harnessing renewable energy and storage technology.”
Given the flexible siting capability of A-CAES, and its ability to provide highly cost-effective long duration energy storage, Hydrostor continues to evaluate additional opportunities to support the NSW Electricity Infrastructure Roadmap, and to facilitate the development of Renewable Energy Zones throughout Australia by providing emission-free, reliable, and long-life energy security using its patented A-CAES solution.
Follow us on LinkedIn and visit the Silver City website to learn more.
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CONTACT: Will Bartlett Hydrostor Inc. 4167286960 william.bartlett@hydrostor.ca
