Australian Renewable Energy Agency & Hydrostor to Award AUS$45 Million Grant to Silver City Energy Storage Centre
World-leading 200MW/1600MWh “Silver City” compressed air storage project in Broken Hill is the preferred solution for network operator Transgrid to replace diesel generators and create a major renewable micro-grid
Hydrostor Inc., a leading long-duration energy storage solution provider, through its partnership with Australian developer Energy Estate (“A-CAES NSW Pty”) announced that the 200MW/1600MWh Silver City Energy Storage Centre has been awarded AUS$45 million from the Australian Renewable Energy Agency (“ARENA”).
This milestone demonstrates the commercial readiness of Hydrostor’s Advanced Compressed Air Energy Storage (A-CAES) technology to provide clean energy security. A-CAES uses existing supply chains and proven equipment to provide affordable, large-scale, and emission-free long-duration energy storage. A-CAES technology delivers an alternative to Pumped Hydro Energy Storage (PHES) for bulk energy storage, with the additional benefits of more flexible siting, shorter development and construction times, and a lower environmental impact.
Silver City will be capable of storing enough renewable energy to provide reliable power for up to 200,000 homes over 8 hours during times of peak demand, providing access to secure and low-cost electricity for consumers in the remote mining community of Broken Hill, NSW. Over the 50+ year lifetime of Silver City, more than 11 million metric tons of carbon dioxide will be displaced which is equivalent to annual emissions of roughly 50,000 cars.
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Siting flexibility allows Hydrostor to target specific problems and capture new value steams, including fringe-of-grid applications such as at Broken Hill, Renewable Energy Zones (REZs), and off-grid applications. ARENA CEO Darren Miller said new technologies for medium duration storage will help to improve the economics of energy storage and help realise the goal of more commercially feasible projects.
“Whether it be through pumped hydro, or new innovative solutions like compressed air storage, medium and long duration storage is going to be vital to supplying power during the evening and morning peak-demand periods as Australia looks towards achieving 82 per cent renewable energy by 2030.”
“Hydrostor’s innovative solution provides us with another option to add to the mix. As a fuel-free storage technology, A-CAES has similar applications to pumped hydro, such as providing dispatchability required to ensure reliability of the power system as more solar and wind power is installed.”
“We are grateful for the financial support provided by ARENA and look forward to continue working with stakeholders to advance critical infrastructure that enables a reliable clean energy transition.” said Curtis VanWalleghem, Hydrostor’s Chief Executive Officer.