Asset Owners & Operators
The current and projected market dynamics makes storage an important asset for suppliers, generators, brokers and grid operators alike.
New Asset Owners: the ability to manage intermittency and meet contractual obligations coupled with the opportunity to avoid triad and red band costs gives market participants a major step advantage over their competitors. Storelectric’s CAES technology can provide this.
Existing Asset Owners: In addition, if you are an owner of existing assets whether gas storage caverns, renewable power plants, fossil power plants, solar farms or interconnectors, Storelectric Ltd can help repurpose or extend the asset (through co location) improving profitability, reducing the environmental footprint and helping manage risks.
Storelectric Ltd’s technology solutions allow the flexibility of optimising for the specific locations envisaged for the storage facility (adiabatic, diabatic and hybrid solutions as described more fully in the technology section). The screening process will indicate the best likely option however Storelectric Ltd fully understands the need for specific solutions more aligned with our customers strategic longer term goals and are happy to discuss alternatives and enhanced hybrid configurations where appropriate.
Repurposing and Extending
OCGT/CCGT: in the current energy market there is little incentive to build new CCGT plants or keep existing ones running (even if they represent a key pillar of the governments (FES) Future Energy Scenarios) however depending on location CCGT plants can be built as CAES CCGT plants adapted for storage. The environmental footprint is estimated to be half that of a conventional CCGT plant and as such would meet the FES needs. Whether as new build or existing build they will increase utilisation and enable access to (otherwise inaccessible) additional revenue streams improving economic viability for an otherwise stranded asset. Storelectric Ltd would be happy to discuss options. A CCGT CAES plant is a net provider of generation capacity.
The standard CCGT CAES configuration is a lower CAPEX option and as such does not utilise the heat of compression (as in Storelectric’s Adibataic CAES) however and where appropriate a heat storage device can be added to a CCGT CAES increasing efficiency and flexibility. The plant would operate as a CCGT CAES with the added benefit of additional heat energy for process needs, district heating applications and for enhancing plant performance. A hybrid CCGT CAES plant is a net provider of generation capacity.
Integration Synergies with Renewables and Interconnectors
Storelectric’s CAES can operate as one of a large portfolio of technologies delivering balancing and ancillary services to the grid. Others include Demand Side Response, interconnectors, pumped hydroelectricity and batteries. None of these can solve the challenges on their own, but without any one of them the costs of solving the challenges become prohibitive. Storelectric’s CAES offers synergies with both renewable generation and interconnectors.
If CAES takes the cable from a large intermittent generator, e.g. a wind or solar farm, tidal or wave power installation, then it can reduce the size of the generator’s grid connection by a factor of two or three. This will be reflected in both capital and operational (grid access charging) costs. It is because peaks in generation will be absorbed by the storage (if big enough) and dispatched only when needed: the grid connection is then geared to demand, rather than to maximum generation output. Moreover the value of electricity generated is increased due to its dispatchability.
If CAES is at the dispatching end of an interconnector, it can smooth out the flow of energy through that interconnector. Thus, in the example of a North African sola generation exporting to Europe, the total energy carried by the interconnector can be increased up to six-fold. Correspondingly, a CAES installation at the receiving end can put that energy into the grid dispatchably.
Both these configurations greatly increase the value of energy generated, while reducing the capital and revenue costs of doing so.
Existing Gas Caverns
Storelectric is currently exploring several options for repurposing existing gas caverns, our Geotechnic Partner has confirmed the possibility and is active with existing asset owners in Germany who are keen to explore a new usage of an otherwise redundant asset. There are several important data that would help assess suitability and these include
Existing usage (gas , liquid etc)
Depth and size of cavern
Current pressure, flow rates and cycling variations
Sonar data, temperature profiles and geology reports
Most if not all this data is a regulatory requirement so should be readily available, (if limited then assumptions can be made) to make preliminary assessments upon.
Storelectric Ltd can provide some initial feedback on suitability and where positive would be happy to consider lease options and or preparing a technico-commercial model for investors to repurpose to storage.