As the world pivots towards a sustainable future, the hydrogen industry is experiencing a transformative surge. At the forefront of this revolution is Triple Point Resources Ltd (Triple Point), whose groundbreaking development of the Fischells Salt Dome is set to become the largest clean energy storage facility on North America’s East Coast.
Triple Point’s vision is both ambitious and timely. The company is charting an innovative path in the energy sector with its plans to develop salt caverns for dual purposes: supporting the local grid through a compressed air energy storage (CAES) project and providing hydrogen storage for increased export capacity. This infrastructure is crucial for bolstering the renewables industry, especially in areas like Newfoundland and Labrador in Canada, where the potential for wind energy is substantial.
The CAES project is particularly notable for its scale, with the capacity to support the grid with hundreds of megawatts of energy. By developing its first cavern specifically for CAES, Triple Point is contributing to a more resilient and flexible energy infrastructure. This technology is used in multiple locations around the world and is critical for managing energy supply and demand, providing a buffer against grid irregularities and fluctuations in hydrogen production and distribution.
This initiative will utilise the natural geological salt caverns to store compressed air, which can be released to generate electricity. The ability to store and release energy on demand enhances grid stability and reliability, making renewable energy sources more viable and attractive.
On the hydrogen storage front, Triple Point’s strategy is equally forward-thinking. The company aims to leverage the vast storage potential of the Fischells Salt Dome to harness excess hydrogen produced during periods of low demand or high renewable energy output. This stored hydrogen can then be exported, increasing the flexibility and capacity of the hydrogen market. The Fischells Salt Dome can store enough hydrogen for generations to come before tapping into its second salt structure a few kilometers away.
Julie Lemieux, CEO of Triple Point, explains, “The significant storage capabilities of Fischells not only enhance supply reliability but also contribute to stabilising prices and reducing risks associated with market fluctuations. This reliability is essential for the financial viability of transitioning to a hydrogen-based economy, as it provides a more predictable environment for off-takers to commit to long-term contracts and investments.”
By ensuring a stable and substantial supply, projects like the Fischells Salt Dome are crucial in lowering the barriers to entry for new players and supporting the broader adoption of hydrogen as a key component of the global strategy to decarbonise the energy sector.
“The Fischells Salt Dome allows us to reduce the environmental footprint for hydrogen storage. Salt caverns are sustainable, efficient and safe. They have been used around the world for more than 60 years. Conscious of local concerns, we plan to work with local communities to develop them over time,” Lemieux adds.
The Fischells Salt Dome, located strategically on the eastern seaboard of North America, neighbours the proposed sites for World Energy GH2’s wind and hydrogen projects, in one of the best wind corridors in the world. This geographical synergy is set to enhance the efficiency and effectiveness of green energy production and storage, making it a key player in one of the world’s fastest-growing green energy corridors.
“In developing the Fischells Salt Dome, the project is not just a technical achievement but also a critical enabler for the transition to a greener, more sustainable energy future. The hydrogen economy will happen with the economy of scale. Having salt caverns in the value chain will be crucial to reduce the cost and the adoption of this new energy source to decarbonise the planet,” states Lemieux.
Globally, salt dome developments are increasingly recognised for their role in creating hydrogen energy hubs. The Fischells project echoes the pioneering spirit of projects like Germany’s salt dome initiative by Gasunie and Storag, and the ACES Delta project in Utah, developed by Mitsubishi Power America and Chevron. These projects illustrate a growing consensus on the strategic importance of salt caverns for hydrogen storage, ensuring stability and reliability in the hydrogen supply chain.
The role of the Fischells caverns extends beyond mere storage; they are integral to energy security and market stability. Similar to the over 300 salt caverns in Germany, Fischells will provide reliability and security of supply, crucial for fulfilling contractual obligations and maintaining energy flow, especially during variable wind conditions or equipment maintenance.
“The Fischells project is a lynchpin in realising the hydrogen economy, where the scale of operations fundamentally changes the cost dynamics and adoption rates. Salt caverns are pivotal in this transformation, offering a strategic advantage by enabling large-scale, long-term hydrogen storage. This not only makes hydrogen an economically viable energy source but also expedites its integration into the global energy matrix, playing a vital role in the decarbonisation initiatives crucial for combating climate change,” said Lemieux.
The development of the Fischells Salt Dome by Triple Point Resources is a landmark project with far-reaching implications for the hydrogen economy. By fostering collaboration and leveraging strategic location advantages, Triple Point is helping to navigate and accelerate the developments across the entire hydrogen value chain.
This initiative not only enhances the energy storage capacity but also signifies a major step forward in the global transition to sustainable and renewable energy sources. Triple Point is poised to play a pivotal role in shaping the hydrogen economy, making it more accessible, affordable and environmentally friendly.
