The energy storage project uses compressed air energy storage (CAES) technology to compress and store air within specially designed caverns developed within naturally occurring salt deposits deep underground. These deposits are located on the east Antrim coast of Northern Ireland.

In a statement, the EU said: “A €90m EU grant will support the implementation of this innovative energy storage project, which will contribute to system flexibility and stability, as well as facilitate the large-scale penetration of renewables into energy markets.”

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Once operational, the project will be capable of generating 330MW of energy for six to eight hours and will also create 250MW of demand on the system.

Gaelectric's commercial director Joe O’Carroll said: “While clearly delighted with this latest award from the EU, we view this as an important endorsement of the contribution that the project will make towards improving the efficiency and sustainability of electricity transmission systems in Britain and Ireland.

"A €90m EU grant will support the implementation of this innovative energy storage project."

“This project is the first of a pipeline of projects employing CAES technology which Gaelectric is working on at several locations across Europe.

See Also:

“We look forward to continuing our work with the authorities in Northern Ireland, with local communities and with the European Commission (EC) and the CEF Coordination Committee in bringing the project to fruition.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Gaelectric’s energy storage project was also awarded two previous grants of a total value of €15m from the EU in 2015 and 2016.

The current award forms part of the EC’s proposal to invest €444m in priority European energy infrastructure projects.

In addition to connecting European energy networks, the projects will also enhance energy supply security and contribute to sustainable development by integrating renewable energy sources across the EU.