The hits just keep on coming for fossil energy stakeholders. The latest field to face down reality is the oil shale business, which depends on favorable energy policies in Estonia and elsewhere for support. Now it’s about to get the boot. Instead, Estonia is turning the spotlight on its considerable offshore wind resources and a massive new long-duration, pumped hydropower energy storage project, most of which will be hidden underground.
The company also takes note of the role of Estonia’s offshore wind resources in releasing it from the grip of oil shale for power generation. In that regard, they have plenty of company. Building a pumped hydro system on flat ground would involve a massive investment in new infrastructure to raise the elevation of an upper reservoir — except maybe it does not. Last year, for example, the Texas startup Quidnet Energy received a $10 million grant from the US Department of Energy to fine-tune a geomechanical energy storage system that deploys underground rock formations as the lower reservoir, enabling the upper reservoir to be constructed at ground level.
“By placing the lower reservoirs in a suitable location on the Earth’s crust, additional income from sales of excavated rock is obtained,” Zero Terrain explains.
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