Corre’s new German energy storage facility could generate net revenues up to €1bn

Irish-listed energy storage group signed a deal with the Dutch power provider Eneco for its first compressed-air energy storage (CAES) facility in Germany

Compressed air energy storage is a way of storing energy underground for later use and has grown in interest with the transition to renewables. Picture: Corre Energy

Corre Energy, the Irish-listed energy storage group, and Eneco, the Dutch power provider, have signed an agreement for Corre’s first compressed air energy storage (CAES) project in Ahaus, Germany.

The agreement will see Eneco acquire a 50 per cent interest in the project, which includes development expenses and construction capital expenditure totalling around €225m. It also means Eneco will secure the entire storage capacity under a long-term offtake agreement for the first phase project at ...