We have a lot of choices when it comes to how electricity is generated. However, not all power generation is created equally. Therefore, as a result of conscious decisions, it is not simply a choice to generate energy from renewable sources, but decisions to eliminate some current sources of energy generation. This monumental shift requires a significant amount of renewable energy generation, which in turn requires tremendous amounts of energy storage to deliver the reliability demanded of the utilities and their customers.
Clean, sustainable energy is of vital importance to Canada’s economic and environmental future. There is no doubt that renewables is becoming a primary source of energy but only when integrated with something that eliminates its intermittency. Large-scale and affordable energy storage is required to develop the dependability, resiliency and productivity of our next-generation power grids. Energy storage empowers the storage, load balancing and dispatch of electricity generated by renewable energy sources.
The most widely used form of bulk-energy storage is pumped-storage hydroelectricity (PSH) and accounts for more than 99% of bulk storage capacity worldwide and represents around 127,000 MW. Since 1930s reversible pumps have been used to store water for future generation and is used throughout the world as the dispatchable stored energy generation.
Eclipsol Energy envisions building four PSH facilities off of Quesnel Lake to be able to provide BC with important assets for not only delivering power when needed to the grid but also capacity in a form that is flexible to the Provinces future needs. Our projects will enable other renewable projects to have greater value in facing scrutiny on their intermittency.
We are looking to be the largest IPP Company in Canada and once we establish the above mentioned opportunities, we will create long term returns for our shareholder. Eclipsol presents a unique value proposition among the world’s IPP companies. We provide both strong IRR, driven by the lowest costs in the business, and remarkable growth in power production over the next six years. Today, we hold the best collection of assets in the industry and a growth pipeline that should see our production increase steadily in the years ahead.