Today, Houston-based Quidnet Energy and Alberta-based, board-governed not-for-profit corporation Emissions Reduction Alberta (ERA) announced the launch of an ambitious project to develop multi-gigawatt (GW) geologic energy storage resource in the Canadian province.
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About the Project
Indeed, this project will have the financial support of the Government of Alberta and will leverage Quidnet’s modular pumped hydro-storage technology. Moreover, the project will receive $5 million in funding from ERA and will take place at Quidnet’s geologic test site in Brooks, AB.
According to the parties, this project will also help several Albertans further develop their energy talent; particularly, since they’ll continue to build long-lasting careers in the energy industry.
Moreover, as Quidnet Energy stated in a media release, the Alberta project is a vital part of its mission to accelerate decarbonization. In fact, the company is currently developing and deploying similar-scaled geologic storage resources; particularly, in major wholesale electricity markets throughout North America.
Worth noting, Quidnet’s Geomechanical Pumped Storage (GPS) technology stores energy in the form of water compressed between shale layers. Besides, it enables renewable energy projects to store excess energy for extended periods. Finally, it releases this stored energy when the grid needs power.
Indeed, Quidnet’s technology looks to provide balance to the grid and optimizes the utilization of transmission infrastructure. Particularly, the company does this to deliver renewable generation to load centers, helping for grid decarbonization.
Currently, Quidnet is developing energy storage projects in Texas, Ohio, and New York State. Accordingly, the company is looking forward to demonstrating GPS technology’s cost-efficiency, terrain-variable deployment, and modular, long-duration capabilities.
Quidnet Energy on the project’s completion
Because Quidnet’s technology is built around subsurface technology and processes, “it is seizing the opportunity of the tremendous talent of Alberta’s oil and gas workers,” the company said.
Lastly, with the successful completion of the project, Quidnet would look to deploy GPS facilities across the Alberta power grid. For instance, including near solar and wind power facilities.
In this regard, Jason Nixon, Minister of Environment and Parks, Government of Alberta; “Alberta is seizing the opportunity to invest in reliable renewable energy projects that will continue to support long-lasting careers in the energy sector.”
Besides, “energy storage solutions like the one developed by Quidnet Energy; store excess energy from renewables in geological formations and dispatch it when demand increases on the power grid,” continued Mr. Nixon. Thus “by unleashing further private sector investments in clean energy solutions; Albertans can continue to build careers in this dynamic industry that is helping to grow and diversify our provincial economy.”
Similarly, Joe Zhou, Quidnet Energy CEO, said; “renewable power resources, such as solar projects, work best when their output can be stored until the grid needs it. In this way, Quidnet Energy’s modular pumped storage technology provides the long-duration energy storage; that actually can make widespread use of renewable resources reliable and effective.”