Irish utility company Electricity Supply Board (ESB) and asset-focused energy company dCarbonX have signed a joint venture agreement to progress large-scale energy storage projects off the coast of Ireland.
Since 2021, ESB and dCarbonX, (an affiliate of Snam ), have been working together in terms of the assessment and development of Irish offshore green hydrogen subsurface storage.
ESB and dCarbonX believe there is significant potential to develop large-scale storage capacity off the Irish coast. The companies intend to actively explore and develop opportunities.
Therefore, the joint venture will focus on three specific green hydrogen storage opportunities based on proposed decarbonisation clusters :
Project Kestrel envisages the re-development of the decommissioned gas reservoirs at the Kinsale Head field, ultimately, for green hydrogen storage.
Jim Dollard , ESB executive director, Generation and Trading, said: “This joint venture agreement provides an expanded platform to deliver key strategic integrated assets that can that help Ireland to meet its climate objectives, whilst also supporting energy security.”
Tony O’Reilly , dCarbonX CEO, said: “ The signing of this joint venture agreement with ESB is another crucial step in the development of large-scale energy storage solutions for Ireland. Working with the backing of our shareholder Snam, dCarbonX has already begun the assessment of suitable offshore reservoirs that can support the storage of hydrogen and hydrogen carriers. ”
ESB said it is committed to the future delivery of green hydrogen production and storage in Ireland to ultimately supplant the use of fossil fuels. Ireland’s significant wind resources are providing a unique opportunity for the production of green hydrogen. Using electrolysis, renewable electricity such as wind energy can be used to generate green hydrogen, which can be stored underground and used during periods of low wind energy production.
The development of green hydrogen storage capacity at scale will play a key role in a net zero future.