CAES developer Corre Energy hires Rothschild for investment process

The Largest Energy Storage Developer in Europe

Corre Energy, a company specializing in energy storage, is currently involved in the development of several large-scale Compressed Air Energy Storage (CAES) projects. These projects include partnerships with major utility Eneco in Germany, the Netherlands, and Denmark, totaling five projects. Each project will have a rated power of approximately 300-320MW and a discharge duration of around 3.5 days, resulting in a storage capacity of up to 27GWh. In addition, Corre Energy acquired a CAES project in Texas last year.

Contributing to Sustainable Development Goals

Corre Energy’s five projects in Europe have positioned the company as the largest developer of energy storage in the region. The combined capacity of these projects, exceeding 100GWh, has been recognized in various transmission system operator (TSO) planning documents. By investing in energy storage, Corre Energy is actively contributing to the achievement of the Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).

Potential De-listing and Investment Opportunities

Given Corre Energy’s significant achievements and its agreement to sell a 50% stake in the Germany project to Eneco, the company has attracted considerable attention. A source familiar with the matter suggests that a de-listing could be on the horizon, as the company’s primary goal was to raise development capital rather than focus on share price. There is a strong interest in investing in Corre Energy, reflecting confidence in its projects and potential for growth.

Performance as a Listed Company

Since its listing in September 2021 at around €1.26 per share, Corre Energy’s stock price reached a peak of approximately €3.90 in February 2023. However, it has experienced a decline and currently sits at around €0.72 per share. The expressions of interest from investors emerged in March following this rapid decrease in share price.

SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 13: Climate Action

The article discusses the development of large-scale compressed air energy storage (CAES) projects by Corre Energy. These projects contribute to the goals of affordable and clean energy (SDG 7) by providing energy storage capacity. They also align with industry, innovation, and infrastructure (SDG 9) as they involve the development of new energy storage technologies. Furthermore, by enabling the integration of renewable energy sources and reducing reliance on fossil fuels, these projects support climate action (SDG 13).

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 7.2: Increase the share of renewable energy in the global energy mix
• SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
• SDG 13.2: Integrate climate change measures into national policies, strategies, and planning

The development of large-scale CAES projects contributes to the target of increasing the share of renewable energy in the global energy mix (SDG 7.2). By providing energy storage capacity, these projects support the integration of renewable energy sources into the grid.

Additionally, the projects align with the target of upgrading infrastructure and retrofitting industries to make them sustainable (SDG 9.4). The implementation of CAES technology represents an innovative approach to energy storage and contributes to the sustainability of the energy sector.

Furthermore, the projects support the target of integrating climate change measures into national policies, strategies, and planning (SDG 13.2). By enabling the efficient storage and utilization of renewable energy, CAES helps reduce greenhouse gas emissions and mitigate climate change.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, there are indicators mentioned in the article that can be used to measure progress towards the identified targets. These indicators include:

• Installed capacity of renewable energy sources
• Energy storage capacity
• Reduction in greenhouse gas emissions

The article mentions that Corre Energy’s projects have a combined capacity of over 100GWh, which can be used as an indicator of progress towards increasing the share of renewable energy in the global energy mix (SDG 7.2) and upgrading infrastructure to make it sustainable (SDG 9.4).

Furthermore, the implementation of CAES technology enables the storage of renewable energy, which can contribute to a reduction in greenhouse gas emissions. The reduction in emissions can serve as an indicator of progress towards integrating climate change measures into national policies, strategies, and planning (SDG 13.2).

4. Table: SDGs, Targets, and Indicators

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: energy-storage.news

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