– NRStor to deploy first of a kind utility-scale compressed air energy storage project in Ontario –
Toronto – November 24, 2015 – Today NRStor Inc. (NRStor), a leading energy storage developer, owner and operator, was selected by Ontario’s Independent Electricity System Operator (IESO) to deliver compressed air energy storage (CAES) capacity services to the grid. NRStor has partnered with a cutting edge technology developer of fuel-free compressed air energy storage systems to develop their advanced energy storage technology on an underground salt cavern in Southwestern Ontario. When operational, this will be the largest commercial CAES project in Canada.
This was the second phase of a two-part competitive process by the IESO to procure up to 50 megawatts (MW) of energy storage. The IESO sought to procure capacity services, which encompass a spectrum of performance characteristics, and provide ratepayers value through the time-shifting of energy consumption and production.
We are delighted to have been selected by the IESO to deliver this landmark project to the Ontario grid. Fuel-free compressed air energy storage can deliver tremendous value – economic and environmental – to local ratepayers. This project will highlight Canadian leadership and innovation in the electricity sector as we work towards a cleaner, more reliable and lower cost energy. -Annette Verschuren, Chair & CEO of NRStor
The CAES technology uses a proprietary heat transfer method that captures, stores, and re-introduces heat, eliminating the need for fuel input. The compressed air is stored in large underground reservoirs that can provide hundreds of hours of compression and expansion at a time. This technology allows for utility-scale projects to operate fuel-free for long durations (up to 200+ hours) at a variety of power ratings (2 to 1,000+ MW). The system requires no fuel input, produces zero greenhouse gases, and is not dependent on colocation with a supplemental heat source.
NRStor commissioned Dr. Andrew Ford, Professor Emeritus at Washington State University, to model the impact and potential value of adding 1000 megawatts of CAES capacity to the Ontario Power system. Unleashing the Value of Energy Storage, the study authored by Dr. Ford, estimates through a combination of renewable energy integration and load leveling, a CAES project on this scale could yield between $6.5 billion and $8.3 billion in savings to ratepayers over 20 years, while reducing carbon emissions by 87 million tonnes over the same period.
NRStor Inc. is a privately held Toronto-based energy storage project developer focused on developing, owning and operating industry-leading energy storage projects. NRStor is partnered with a variety of technology suppliers that manufacture and integrate flywheel, compressed air and battery energy storage systems.The Company offers flexible financing solutions to develop effective and cost-competitive storage systems based on clients’ precise technical and financial needs.