Compressed Air Energy Storage (CAES) has the potential to meet critical grid needs for affordability, reliability, and long-duration energy storage. CAES features paired compression and expansion systems connected by an air storage reservoir. During off-peak hours, excess energy from the grid is used to compress air via a compression train and stored in a solution-mined salt cavern. Then, during peak hours, the stored air is released, reheated and expanded through the expansion train, which generates electricity to supplement the grid.
The project will mark the first deployment of CAES in Alberta and leverages the unique geological advantages of Alberta’s salt formations to provide a scalable, dispatchable, and low-emission energy storage solution. Cache Power Corp will lead a series of studies and pre-construction activities to advance the Marguerite Lake Compressed Air Energy Storage Demonstration Project to Final Investment Decision.