en.Wedoany.com Reported - Hydrostor, a global long-duration energy storage developer, has announced the development of the Quinte Energy Storage Centre, an advanced compressed air energy storage facility located in Greater Napanee, Ontario. Hydrostor stated that the project will support grid reliability and advance the province's energy goals.

The announcement follows over a year of consultations with the town, residents, and local officials, resulting in a Municipal Support Resolution from the Municipality of Greater Napanee.

Hydrostor indicated that the project has now entered the permitting process and will require further approvals at the municipal, provincial, and federal levels.

The project is being developed in partnership with the Mohawks of the Bay of Quinte, who will serve as an Indigenous equity partner.

The facility is expected to generate significant economic benefits for the local and provincial economy over its 50-year expected operational life, contributing over CAD 1.4 billion to Canada's GDP.

The project will receive partial funding from the Canada Growth Fund, which has provided a USD 50 million convertible development loan to support development costs for its projects across Canada.

The project comes as Ontario plans to procure up to 800 MW of long-duration energy storage to support grid reliability.

Hydrostor stated that its A-CAES technology stores energy using compressed air and water, and the company has a broader global project pipeline of 7 GW across Canada, the United States, Australia, and the United Kingdom.

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