Energy company Corre Energy and Siemens Energy have today launched a global collaboration for the deployment of Compressed Air Energy Storage (CAES).

The company said this will allow it to accelerate the international roll-out of major integrated renewable energy infrastructure projects which underpin the global energy transition.

Corre concentrates on the development, construction and future operation of grid-scale underground renewable energy storage facilities, as well as the production and sale of green hydrogen.

It said today’s deal deepens an already strong partnership between the two companies and allows Corre Energy to proceed towards financial close of its international pipeline of projects.

It also responds to ever-rising demand from offtakers such as renewable energy producers, offshore wind developers and large industrial users of power for Long Duration Energy Storage (LDES) solutions which are increasingly being mandated by governments for future renewable project tenders, it added.

Keith McGrane, CEO of Corre Energy, said the company is responding to increasing market demand for multiday energy storage by deepening its partnership with Siemens Energy.

“By doing so we can offer a much-needed modular and standardised scalable CAES solution to the market providing storage for over 24 hours. This agreement will accelerate our response to meet increasing demand from a range of investment grade offtakers for the Corre Energy pipeline of projects,” he added.

Today’s deal was signed in Denmark where Corre Energy is deploying its CAES solution as a key component of the Green Hydrogen Hub (GHH) project.

Corre Energy is already working in partnership with Gas Storage Denmark and Eurowind Energy to deliver a fully integrated energy hub combining co-located wind and solar generation, green hydrogen production and CAES technology to deliver a net zero facility.