From pv magazine ESS news place
Houston-based renewable energy storage developer Quidnet Energy has announced a major deal that will see hundreds of megawatts of its innovative technology deployed in Texas to help meet ERCOT’s urgent need for energy storage.
The company has announced a strategic partnership with a $10 million investment from Hunt Energy Network (HEN), a distributed energy resources developer with experience in underground development.
The two Texas-based companies will collaborate on a build-transfer program for 300 MW of projects using Quidnet Energy’s GES technology, which relies on tightly sealed underground reservoirs for energy storage.
The partnership will pair Quidnet’s solution with HEN’s similar underground technologies and its capabilities in developing energy storage projects, the companies said in a press release.
“Quidnet Energy’s GES technology offers a unique opportunity to revolutionize energy storage, and we are excited to invest in a solution that purposefully transforms existing resources to expand access to long-term storage,” said Pat Wood, III, Chief Executive Officer of Hunt. Energy network.
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