May 17, 2020

OffShore Wind Project Approved for Cape Wind

offshore-wind-project-approved-cape-wind
Admin
2 min
OffShore Wind Project Approved for Cape Wind



The Department of Public Utilities approved the first ever United States offshore wind power contract between National Grid and Cape Wind. The 15 y...

The Department of Public Utilities approved the first ever United States offshore wind power contract between National Grid and Cape Wind. The 15 year contract approved the Massachusetts based facility at 18.7 center per kilowatt-hour in 2013, which will rise by 3.5 percent over the period of contract.

“This contract fulfills a statutory mandate under the Green Communities Act to facilitate the development of renewable energy generation, and it does so with strong protections for ratepayers,” said DPU Chair Ann Berwick. “It is abundantly clear that the Cape Wind facility offers significant benefits that are not currently available from any other renewable resource, and that these benefits outweigh the costs of the project.

"Not only does the contract support the largest renewable energy project proposed in New England, it provides protection for consumers against the volatility of fossil fuel prices for a portion of electricity purchases. We are fully persuaded that if Massachusetts is to meet its statutory renewables and greenhouse gas emissions reduction requirements, offshore wind, and Cape Wind in particular, will have to be part of the mix.”

Those opposed to this contract have focused on the price differences from onshore wind projects like the one in Maine’s Kibby Mountain, which sets the price at less than 11 cents per kWh. However, the 25 year power purchase project was only partially approved, as the Department of Public Utilities claimed the companies were not clearly identifying a utility to buy the power in their initial proposal.

The prices weren’t a concern of the DPU, who indicated that electrical markets fluctuate for customers, and offshore wind turbines would reduce any possibility.

Source: OPT



 

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

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.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

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. 

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