Corre Energy B.V. has expanded its energy storage project development operations into the United States and Canada. Corre Energy US Development Company LLC, a subsidiary of Corre Energy B.V., has been formally launched to source and develop utility-scale compressed air energy storage (CAES) projects across North America. CAES is a commercially proven technology that can use renewable energy to compress air into underground salt caverns when power demand and prices are low.

This energy is later released to the grid to increase supply when demand and prices are higher, enhancing the stability, reliability, and security of the network. When combustion of green hydrogen is included as part of the CAES plant's technical design, the electricity it supplies has a zero-carbon footprint. The US Department of Energy ranks CAES1 as the lowest cost long duration energy storage technology.

The relatively inexpensive nature of the physical hedge provided to Corre Energy's customers allows them to ‘time shift' the variable energy they produce and enhance the profitability of their renewable assets. In this way, CAES facilities can support the more rapid deployment of renewable generation assets across North America, accelerating the decarbonization of the generation fleet.