5.5 Million Without Power after Hurricane Irene
U.S. energy companies and oil and gas refineries are working to get up and running again on the east coast, which was pummeled by Hurricane Irene over the weekend. Roughly 5.5 million people in 14 states are without power as of Monday morning according to a report from the U.S. Department of Energy, with New York State topping the list with 940,000 residents without energy. Apart from electricity and gas, several oil refineries were closed during the storm and will restart operations this week.
Sunoco Inc. closed a 90,0000 barrel per day (bpd) crude unit at its 335,000 bpd Gerard Point refinery. ConocoPhillips’ Linden, New Jersey refinery was closed completely through the weekend. However, other refineries, such as Hess Corp.’s 70,000 bpd Port Reading refinery in New Jersey. As predicted, a spike in gasoline price is being noticed in the storm’s wake.
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The U.S. Energy Information Administration reported that there has been no pipelines damaged. Colonial Pipeline went so far as to say that the storm’s impact was far less than expected, reporting no damage. However, some pipeline companies, such as Williams Cos Inc., are reporting power loss or flooding at pump stations.
Hurricane Irene had put millions on edge, but ultimately the storm never reached the capacity expected. Though lives were lost, businesses and homes flooded, and millions left without power, the damage is still far less than predicted. As energy companies and refineries reboot operations and people work to clean up the mess left behind by torrential rainfall and flooding, some sense of normalcy should resume shortly.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.