The bankrupt firm behind plans for a large-scale compressed air energy storage (CAES) plant in Northern Ireland has withdrawn its planning application for the project.
Gaelectric, which entered administration proceedings in 2017, has withdrawn a planning application for its proposed 330 MW Larne project through KPMG, its liquidator.
Gaelectric submitted plans in December 2015 to Northern Ireland’s Department for Infrastructure for the CAES project in Islandmagee and in 2017 won €90 million of EU funding as an EU project of common interest (PCI).
KPMG has been running a sale of Gaelectric assets and had hoped to find a buyer for the Larne CAES.
The project would have required the development of three 230 000 m3 salt caverns approximately 1.5 km below ground level to store compressed air and provide between six and eight hours of energy.