28th February 2024

Corre Energy becomes largest energy storage developer in Europe

Corre Energy, a leader in long duration energy storage (LDES), is now the largest developer of energy storage in Europe following the publication of an EU-wide plan. With 100 GWh of Compressed Air Energy Storage (CAES) under development, Corre Energy's projects represent c20% of the total capacity of planned large-scale energy storage projects in Europe over the next 10 years.

The 10-year network development plan (TYNDP) is managed by the European Network of Transmission System Operators for Electricity, the official association of European transmission system operators (TSOs), representing 36 countries. Alongside Corre Energy’s projects in the Netherlands and Denmark, the plan now includes the Company’s latest project in Germany. The achievement highlights the critical role of Corre Energy’s pipeline in meeting the EU's climate and energy targets, ensuring a cost-effective and secure energy transition.

The plan is designed to complement and support efforts by TSOs in planning how power will be added, linked and stored over the coming decade. It means Corre Energy’s projects are set to be incorporated in national grid plans across three European states, while inclusion in the plan represents a further step towards accelerating permitting plans in each country.

The latest plan comes at a time of growing EU momentum behind the energy transition, aiming to deliver infrastructure investment in a timely, cost-effective and secure way. Earlier this month the European Commission recommended that the EU should cut its net emissions to 90% below 1990 levels by 2040. Renewable energy is fully recognised as key to this transition, with flexibility and large-scale storage called out as critical.

Keith McGrane, CEO of Corre Energy, commented: “Corre Energy is now proudly and officially the largest energy storage developer in Europe. With the latest addition of our project in Germany, the EU-wide plan shows the close convergence of our pipeline with the ramping up of Europe’s energy transition. The EU needs to cut emissions by 2040 and only critical projects like ours will help to turn goals into reality.”