Corre Energy and SemperPower have formed a joint venture (JV) to invest approximately €300m in the Netherlands for an energy storage project. The two-hour 320MW facility will be built in Corre Energy's site in Zuidwending.
Once the project is operational, developers expect to avoid the emission of over 70,000 tonnes of CO2 every year. In order to guarantee zero market revenue risk, the companies are looking to establish offtake agreements for at least the next 10 years.
A final investment decision (FID) should be taken late next year. Commercial operations are scheduled for 2026.
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