Green Gravity signs Romanian energy storage agreement

November 13, 2023

Australian energy storage developer Green Gravity and Complexul Energetic Valea Jiului S.A. (CEVJ) have executed a cooperation framework agreement to explore the application of Green Gravity’s  energy storage technology in 17 mine shafts at the four mining operations in the Valea Jiului in Romania.

The agreement outlines the scope and objectives of a joint study to “assess the technical, economic and environmental aspects of converting CEVJ’s existing coal mines into energy storage facilities”, a statement said.

The study will also evaluate the potential benefits and challenges of integrating an energy storage system with the existing power grid and renewable energy sources.

Mark Swinnerton, CEO of Green Gravity, said: “We are delighted to collaborate with CEVJ on this innovative project, which has the potential to transform Romania’s coal sector into a renewable energy storage hub, creating jobs, growth and innovation. Our technology offers a unique solution to store excess renewable energy using gravity, which can help balance the power grid and support the EU’s climate goals. Successfully implementing gravitational energy storage in the Valea Jiului will provide a leading example for successful transition of a coal mining region. This project has global implications for climate, jobs and investment.”

Eusebiu Durbaca, managing director of CEVJ, said: “We are pleased to partner with Green Gravity, a world-class company in the field of clean energy. This project is part of our strategy to diversify our energy portfolio and explore new opportunities for value creation from our coal assets. We believe that gravitational energy storage is an innovative approach to energy transition, and we are committed to contributing to Romania’s and Europe’s energy transition and green recovery.”

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