Corre Energy and Eneco have agreed to offtake, co-develop and co-invest into a compressed air energy storage (CAES) project in Germany, located near to the future hydrogen backbone grid.
The agreement will ensure Eneco acquires a 50% interest in the project, with economics to be agreed including both development capital and construction equity. Eneco will also secure the entire storage capacity under long-term offtake agreement for the first phase project at Ahaus.
Phase one of the Ahaus project will use the first two of the site’s four existing salt caverns to deploy Corre’s multiday CAES solution to deliver 220MW of compression capacity and 320MW of generation capacity. The first cavern will be handed over to Corre by 2027, expected to use equipment supplied by Siemens Energy following a global collaboration.
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