New Jersey, United States [RenewableEnergyWorld.com] PSEG Global LLC and energy storage pioneer Dr. Michael Nakhamkin announced that they have formed Energy Storage and Power LLC (ES&P), a joint venture to exclusively market, license, support the development and supervise project execution of the second generation of Compressed Air Energy Storage (CAES) technology.
CAES technology stores off-peak energy, in the form of compressed air in an underground reservoir, and releases this energy during peak hours. CAES can be used for load management of intermittent renewable energy resources or as a stand-alone intermediate generation source for capturing energy arbitrage, capacity payments and ancillary services. Dr. Nakhamkin led the design and technical implementation of North America’s only CAES plant in McIntosh, Alabama in 1991.
ES&P said that its second generation CAES technology incorporates lessons learned and operational experience from the Alabama CAES project. ES&P will license its technology to customers, as well as optimize the performance of CAES plants and provide technical support throughout the CAES project design, development and construction process. Potential customers of ES&P’s CAES technology include electric utility companies, independent power producers, wind developers and transmission owners, according to PSEG Global.
“Clearly, compressed air energy storage has significant potential as a near term, viable, large scale energy storage technology,” said Dr. Arshad Mansoor, vice president of power delivery and utilization at the Electric Power Research Institute. “As we see greater and more widespread integration of intermittent generation such as wind gain acceptance, storage technologies like CAES will become even more vital.”