DK1, the Group’s second project, which is located in Denmark, is to be developed as a renewable electricity storage facility expected to have a generation capacity of 320 MW with fully integrated green hydrogen capability. Corre Energy currently owns 100% of this project.

The Danish Climate Agreement for Energy and Industry 2020 is targeting 70% renewables and 70% reduction in greenhouse gas emissions by 2030. Approximately 10 GW of offshore wind is to be in operation by the end of the decade and presents a significant integration problem for the electricity grid operator, therefore highlighting the need for scalable storage solutions with an emphasis on hydrogen-based systems to facilitate deep decarbonisation of both the electricity system and industrial sectors.

In December 2020, Corre Energy in consortia with Eurowind Energy A/S and Danish state-owned transmission system operator Energinet (through its subsidiary Gas Storage Denmark) formally launched plans to establish one of the world’s largest green hydrogen production, storage and CAES hubs in Denmark. The project’s ambition is to combine CAES and green hydrogen production via electrolysis with two large scale energy storage solutions – underground hydrogen storage and CAES. It is intended that Corre Energy will be the lead developer of CAES and co-developer of the electrolysis facility.

“This first Green Hydrogen Hub, the result of many years collective work, represents a giant leap forward for Europe’s energy transition,”

“Grid-scale storage is the only way to achieve 100% renewable energy, eliminate fossil fuels and decarbonise Europe within ten years. This technology has the potential to transform economies. By unlocking the true value of renewable energy, countries can now achieve the lowest cost decarbonisation.”

Keith McGrane, CEO of Corre Energy.

Website: www.greenhydrogenhub.dk