Goldman Sachs is investing in energy storage
Goldman Sachs invests $250mn in Hydrostor
The money will be used to progress near-term long-duration energy storage projects in California and Australia
Canadian energy storage manufacturer Hydrostor has secured $250mn in investment from asset management firm Goldman Sachs. The investment will be used to support the development and construction of Hydrostor’s advanced compressed air energy storage (A-CAES) projects. The technology uses surplus electricity to produce heated compressed air. The heat is extracted and stored in a thermal store while the compressed air is stored at a constant pressure in a purpose-built cavern. The heat and air can then be recombined to run through a turbine to generate energy when needed. “We are delighted with this investment by Goldman Sachs. It is transformational for Hydrostor and validates the competitivene
Also in this section
19 December 2024
The utility-scale battery energy storage system market is evolving rapidly, with diverse offtake models emerging to offer bespoke, flexible contracting solutions
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
