One of the largest energy storage systems in Europe will be built in the Netherlands

Developer Corre Energy, which focuses on renewable energy storage systems, has partnered with Dutch company SemperPower, a leader in Battery Energy Storage Systems (BESS). Together, they plan to launch an advanced energy storage project in Zuidwending (ZW1), Netherlands.

Zuidwending – a strategic place on the Dutch renewable energy map

Zuidwending is near Veendam, about 20 kilometers from the nearest coast. The area has many offshore wind and solar farms and is also developing salt caves to store hydrogen. Due to the rapid growth of renewable energy in the region, developer Corre Energy and SemperPower have decided to invest in building a large energy storage system.

This investment responds to the recent statements by TenneT, the state-owned electricity grid operator, which highlighted the need to significantly speed up the construction of electricity infrastructure in the Netherlands to double its current capacity over the next decade.

Modern storage system in Zuidwending

Under the agreement, initially valued at EUR 7 million, Corre Energy and SemperPower will collaborate on a project that will include 320 MW of battery storage with a capacity of 640 MWh. The project is expected to be operational by the end of 2026 and will serve as a key balancing solution for the Dutch grid, addressing the growing need for energy from intermittent renewable sources. The joint venture estimates that the investment will prevent more than 70,000 tons of carbon dioxide emissions annually. This project complements Corre Energy’s plans for compressed air energy storage (CAES) and will provide an additional revenue source.

The signing of the agreement positively impacted Corre Energy’s shares, which increased by 21%. This is particularly significant given that the company’s share value had dropped by 86% in the past year, with cash holdings falling to €1.08 million at the end of last year. To stabilize its financial situation, Corre Energy recently raised €2.76 million from the sale of shares to investors.

Corre Energy CEO Keith McGrane stated that the SemperPower deal “accelerates and broadens Zuidwending’s revenue profile while providing critical energy storage to meet future consumption needs.” He added that the collaboration with the Dutch partner offers a model that can be replicated and scaled in the future.

This project is among several initiatives by Corre Energy, including the 320 MW Green Hydrogen Hub in Denmark and plans to build three compressed air storage facilities in Germany.

Source: corre.energy