Hydrostor Signs Agreement for Energy Storage Project in Australia
Hydrostor, a Canada-based energy storage company, has announced an agreement for the development of the Silver City energy storage project in Australia. The project aims to support the Sustainable Development Goals (SDGs) by providing clean and reliable energy storage solutions.
Access to Property Transactions and Infrastructure
- The agreement includes access to property transactions and existing mine infrastructure.
- It also provides construction support services for the project.
- The agreement supports the continued and longer-term operation of the Potosi Mine during and after the construction of the Silver City project.
Silver City Energy Storage Project
The Silver City project is designed to have an energy storage capacity of 200MW/1,600MWh, with a duration of 8 hours. It has allocated 250MWh to provide backup power to the town of Broken Hill, which was selected by regional transmission system operator (TSO) Transgrid for this purpose last year.
Benefits of the Potosi Mine Site
- The Potosi Mine site has several features that make it suitable for Hydrostor’s Advanced Compressed Air Energy Storage (A-CAES) technology.
- These features include very hard and impermeable rock, existing underground mine development with a cavern at a depth of 600m, and existing mine support infrastructure.
Paul Rasmussen, Hydrostor’s Vice-President of Integration, stated that leveraging the existing mine investment and infrastructure enables faster project delivery, reduced setup costs, and a better understanding of the site’s geology.
Funding and Timeline
The Silver City project received AU$45 million (US$29 million) in funding from the Australian Renewable Energy Agency (ARENA) last year. The project is expected to reach financial close by late 2023, after which construction can commence. However, the completion date has not been communicated yet. The total cost of the project is estimated to be AU$652 million (US$420 million).
Other Hydrostor Projects
Hydrostor is also developing two large-scale projects in California. One of these projects, located in Kern County, aims to have a capacity of 500MW/4,000MWh. The company recently announced that it is assessing alternative locations and delivery dates for this project. Despite the minor setback, Hydrostor remains fully committed to the project, which secured an offtake deal with a utility in January 2023.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | No specific indicators mentioned in the article |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | No specific indicators mentioned in the article |
| SDG 11: Sustainable Cities and Communities | 11.6: Reduce the environmental impact of cities | No specific indicators mentioned in the article |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | No specific indicators mentioned in the article |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 13: Climate Action
The article discusses the development of an energy storage project, which aligns with SDG 7 (Affordable and Clean Energy) as it aims to provide backup power to the town of Broken Hill. The project also involves the use of innovative technology (A-CAES) and the retrofitting of existing mine infrastructure, connecting it to SDG 9 (Industry, Innovation, and Infrastructure). Additionally, the project contributes to SDG 11 (Sustainable Cities and Communities) by reducing the environmental impact of cities through the integration of renewable energy storage. Finally, the project supports SDG 13 (Climate Action) by promoting the use of clean energy and reducing greenhouse gas emissions.
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase the share of renewable energy in the global energy mix
- SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
- SDG 11.6: Reduce the environmental impact of cities
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
The specific targets identified based on the article’s content are increasing the share of renewable energy in the global energy mix (SDG 7.2), upgrading infrastructure and retrofitting industries to make them sustainable (SDG 9.4), reducing the environmental impact of cities (SDG 11.6), and integrating climate change measures into national policies, strategies, and planning (SDG 13.2).
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
No specific indicators are mentioned or implied in the article that can be used to measure progress towards the identified targets. The article mainly focuses on the project’s development and funding, without providing specific indicators for measuring progress towards the targets.
Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.
Fuente: energy-storage.news
Join us, as fellow seekers of change, on a transformative journey at https://sdgtalks.ai/welcome, where you can become a member and actively contribute to shaping a brighter future.
