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Hydrostor to Build Compressed Air Energy Storage Project in Canada

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Canadian energy storage developer Hydrostor plans to build a compressed air energy storage project in Greater Napanee, Ontario, it said on Wednesday.

The company will now seek permits for the project and will develop it in partnership with Indigenous equity partner Mohawks of the Bay of Quinte. It has received backing at the municipal level after a year-long consultation process, Hydrostor's statement said.

No capacity figures were included in the company's statement, but its website describes its technology as offering a 500-megawatt energy supply, or an 8-hour duration energy supply.

The statement said the project will create about 40 permanent jobs for the facility's estimated 50-year lifespan and that it would add about CA$1.4 billion ($1.02 billion) to Canada's GDP.

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