Highview Power announced on May 19 it is developing up to 2 GWh of long duration, liquid air energy storage projects across Spain, for an investment of approximately $1 billion. These projects will help the country get closer to achieving its carbon neutrality and renewable energy goals, Highview Power said.
Spain recently adopted its National Energy and Climate Plan, which calls for a 23% reduction in carbon emissions by 2030, and net zero emissions by 2050. It is estimated that Spain’s climate plan will create over 300,000 jobs and generate $200 billion in investments. Highview Power’s technology will be strategically developed in regions more suitable for long duration energy storage.
“As Spain adds more renewables to the grid, long duration energy storage will play a critical role toward enabling grid stability and helping the country achieve the decarbonization objectives set by the National Energy and Climate Plan,” Highview Power CEO and President Javier Cavada said. “Spain clearly recognizes the urgency of addressing climate change and we believe that Highview Power’s CRYOBattery will be a critical component in its net zero strategy.”
Alongside development partners and a consortium of investors, which include TSK, one of the largest engineering companies in Europe, and the Center for Energy, Environmental and Technological Research (CIEMAT), Highview Power is planning to develop up to seven CRYOBattery projects ranging from 50 MW/300 MWh in Asturias, Cantabria, Castilla y Leon, and the Canary Islands.