EnergyPathways has launched front end engineering and design (FEED) for its compressed air energy storage (CAES) project in the East Irish Sea, part of the wider MESH energy development, with the facility designed to store surplus electricity from offshore wind farms and the UK grid.
The CAES project forms one component of the broader MESH project, which also includes natural gas and hydrogen storage, as well as a low-carbon hydrogen production plant and associated onshore infrastructure.
According to the company, the CAES facility will use surplus electricity from nearby offshore wind farms, alongside excess power from the UK grid, to compress air into offshore salt caverns. The stored air will later be used to generate dispatchable power when required.
Located in the East Irish Sea and linked to infrastructure at Barrow-in-Furness, the CAES facility is planned with a power capacity of 300 MW and an energy storage capacity of 55.2 GWh, enabling more than seven days of discharge.
The FEED phase of the project follows pre-FEED studies carried out with Siemens Energy, which have confirmed the project’s economic viability, EnergyPathways said. The FEED phase is being funded through a GBP 15 million (around €17 million) financing agreement with a global institutional investor.
EnergyPathways says it has also received expressions of Interest for project financing from leading global banks, with project financing discussions underway.
Final Investment Decision (FID) for the CAES project is planned to be reached in 2028, with operations expected to start by the end of 2031, subject to regulatory approvals.
The company is also awaiting a decision from the North Sea Transition Authority (NSTA) on its Gas Storage Licence application, which would advance its MESH gas and hydrogen storage project.
The wider MESH project has been designated a project of national significance by the UK government.