Oil Companies Prepare for Hurricane Sandy in Northeast
As Hurricane Sandy approaches the Northeast, oil refineries along the US Atlantic Seaboard set up emergency plans. Six refineries, representing 1.19 million barrels per day (7 percent of total US capacity), could potentially be hit by the storm.
As Sandy tore through the Caribbean, it left 21 dead before heading northward. Once it hits the east coast, some say it could potentially cause billions of dollars worth of damage, topping last year's Hurricane Irene. Although it is too soon to tell how bad Sandy will be, oil refineries and energy companies are preparing for the worst.
Forecasters expect Sandy to make its way ashore in the northeast late Monday or early Tuesday, unleashing heavy rains, storm surges and possibly near hurricane-force winds.
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Duke Energy and Red Cross are on standby with trucks and crews ready to go if power is knocked out.
“This isn’t our first storm,” Jason Walls with Duke Energy told wsoctv. “As with any storm big or small, we have a detailed response plan. We pull out those plans and check inventories. We watch the storm as it develops, and our crews are ready to respond.”
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.