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The Netherlands

CAES Zuidwending (ZW1) is a large-scale renewable electricity storage facility currently under development, and marks the Group’s first project. ZW1 is being developed in partnership with Infracapital (part of M&G Group plc).

The project is listed on the ENTSO-E Ten Year Network Development Plan (TYNDP), and will deploy advanced compressed air energy storage (CAES) technology to develop and implement renewable CAES solutions for the integration of renewable energy.

On completion, it is expected to have a generation capacity of 320 MW and a daily storage/delivery capacity of approximately 3-4 GWh. ZW1 has already secured grid capacity and commenced permitting, and this project is expected to come on-stream in 2025/2026.

Under the partnership, it is intended that Infracapital will fund, subject to the achievement of certain milestones, part of the development and the capital expenditure in return for an ownership interest in the project. Corre Energy will retain a significant minority equity interest in this project.



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.