A deal has been reached to drive forward large-scale energy storage projects off the coast of Ireland.

ESB and dCarbonX have signed a joint venture agreement to progress these projects.

Since Q2 2021, ESB and dCarbonX have been working together in terms of the assessment and development of Irish offshore green hydrogen subsurface storage.

ESB and dCarbonX believe there is significant potential to develop large-scale storage capacity off the Irish coast and intend to actively explore and develop opportunities. The joint venture will focus on three specific green hydrogen storage opportunities based around proposed decarbonisation clusters – east of Dublin's Poolbeg, west of ESB's Green Atlantic @ Moneypoint project supporting the Shannon Estuary cluster and south of Aghada in Cork (Project Kestrel). Project Kestrel envisages the re-development of the decommissioned gas reservoirs at the Kinsale Head field, ultimately, for green hydrogen storage. 

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Jim Dollard, ESB Executive Director, Generation and Trading, said: "Mirroring the developments across Europe, ESB recognises the importance of large-scale energy storage and the role that green hydrogen will play in enabling a net zero future. This joint venture agreement provides an expanded platform to deliver key strategic integrated assets that can that help Ireland to meet its climate objectives, whilst also supporting energy security. We are delighted to be partnering with dCarbonX and Snam on these projects."

Tony O'Reilly, dCarbonX CEO, added: "The signing of this joint venture agreement with ESB is another crucial step in the development of large-scale energy storage solutions for Ireland. Working with the backing of our shareholder Snam, dCarbonX has already begun the assessment of suitable offshore reservoirs that can support the storage of hydrogen and hydrogen carriers. We look forward to progressing these opportunities with ESB."