The European Union has agreed to provide financing of up to € 6.47 million for Gaelectric’s compressed air energy storage (CAES) project near Larne in Northern Ireland.
The Project, which has already been included as a Project of Common Interest (PCI) under the EU programme to promote transboundary energy infrastructure, will store energy in the form of compressed air in especially engineered caverns created within geological salt deposits for this purpose. This EU financing will be applied in meeting the costs of environmental impact assessment and planning activities, as well as front end engineering design for the Project. The Larne CAES Project is designed to store energy in the form of compressed air and to release this energy to transmission system operators generating up to 330 MW for periods of up to 6 hours duration.
