Corre Energy buys 280 MW / 4.2 GWh energy storage project in West Texas
Corre Energy B.V. has announced that it has entered into an exclusive agreement to acquire a 280 MW/4.2 GWh energy storage project in West Texas, USA from Contour Energy.
The utility-scale storage system will utilize a technology known as Compressed Air Energy Storage (CAES). This innovative solution enables the storage of renewable energy by compressing air into underground salt caverns during periods of low electricity demand and inexpensive wholesale prices. The stored energy is then released back to the grid during times of peak demand and higher electricity prices. CAES has proven to be both a reliable and cost-effective solution for enhancing the stability, security, and reliability of the electricity grid.
Upon completion of the due diligence process, the buyout transaction is expected to close before the end of this year. The West Texas storage project aims to reach the financial investment decision (FID) stage by 2025, followed by full commercial operation.
Country updates
-
-
July 27, 2023
Clearway closes financing and starts construction of Rosamond Central BESS project in Kern
Clearway Energy Group has achieved a US$421 million financial closing on its Rosamond Central Battery Energy Storage System (BESS) project, a 147 MW/588 MWh capacity battery storage facility bein...
Read more -
July 27, 2023
Enel, Eaton sign retail agreement for 500 MW wind project in West Texas
Enel North America has signed a retail electricity supply agreement with Eaton. Under the agreement, Enel will provide Eaton's Sherman facility in Texas with electricity, using renewable energy certif...
Read more -
July 26, 2023
First Solar secures order for 279 MW solar project in Alabama
The Tennessee Valley Authority (TVA) has placed an order to First Solar for the delivery of solar panels for the construction and development of the 279 MW DC solar photovoltaic project which wil...
Read more -
July 25, 2023
New York commissions 7.2 MW community solar PV project in Montgomery
Medline Industries has recently completed a US$8 million community solar project at its distribution center in Montgomery, Alabama, USA. The solar panels will generate 8.5 million kWh of clean power a...
Read more -
July 24, 2023
Invenergy starts commercial operation of 200 MW Calhoun solar PV project in Michigan
Invenergy has started the commercial operation of its 200 MW Calhoun Solar Energy Center located at Calhoun County in Michigan, USA. The completion of the construction of the plant wa...
Read more
