The NB Power head office in Fredericton. Image: Submitted/NB Power
New Brunswick could soon be home to one of the largest long-duration energy storage facilities in the world.
NB Power and Malta Inc. have signed a term sheet and are working toward establishing a benefits agreement.
Malta Inc. is a Massachusetts-based developer of innovative pumped heat energy storage technology, according to a news release.
“We are proud to be partnering with NB Power to provide sustainable and affordable energy while supporting Canada’s equitable transition to a carbon-free future and economy,” Ramya Swaminathan, CEO of Malta, said in the release.
“It is a win for sustainable technologies, a win for the transition to a net-zero future, and a win for New Brunswick customers.”
The 1,000 MWh facility would store power when it is generated and discharge the power when it is needed.
It would also produce heat as a byproduct that can be used in commercial, industrial, and district energy operations.
“This is a very exciting initiative for NB Power as we make greater strides towards decarbonization and adding more flexibility to our generation assets,” Keith Cronkhite, president and CEO of NB Power, said in the release.
“It will be an important addition to our grid as we find solutions to increase beyond our current 80 per cent carbon-free electricity for New Brunswickers.”
Officials said the facility would lead to the creation of an estimated 225 new jobs during construction and up to 15 during operation.
It is hoped the facility will be up and running by 2024.
Malta and NB Power announce collaboration towards development of province's first long-duration energy storage project: https://t.co/vAEoXT7xbg
— NB Power (@NB_Power) October 28, 2021
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