Compressed Air Energy Storage (CAES)

Corre Energy will utilise a technology known as Compressed Air Energy Storage (CAES), whereby it will use renewable electricity to store compressed air in underground salt caverns, which can subsequently be combined with green hydrogen stored in co-located caverns to fuel the generation of electricity. When renewable electricity supply is high resulting in low prices, Corre Energy will compress air into storage caverns and conversely when renewable electricity supplies are low and prices are high, Corre Energy will generate green electricity from CAES.

In addition, Corre Energy will generate revenue from the sale of electricity market balancing services and will sell surplus green hydrogen production to industry participants.

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