CPS Energy and Quidnet Energy have signed a 15-year commercial agreement for an energy storage project, which will use Quidnet's Geomechanical Pumped Storage (GPS) technology for creating low-carbon and cost-effective power generation.
The GPS technology pumps water underground and stores it between impermeable rock layers, which hold the water under pressure. When electricity has to be supplied from the project, the pressurized water will be released to power a hydroelectric turbine, thus generating emission-free electricity.
The project will be executed in two phases, starting with a 1 MW, 10-year storage facility. The project may later be expanded to 15 MW.
EPIcenter's Innovation Management program will support CPS Energy's decision-making process for the project. The move is in support of CPS Energy’s Flexible Path plan to cut emissions 80 percent by 2040.
"The CPS Energy team is dedicated to serving our customers with reliable, safe, secure, and resilient service. New technologies like Quidnet's GPS energy storage can enhance reliability and enable us to expand our renewable power resources and explore new technologies as we build our path for the future," said CPS Energy Interim President & CEO Rudy Garza. "Incorporating Quidnet's homegrown-Texan energy storage solution allows us to create a cleaner electric supply while supporting our local energy industry workforce and lowering costs for our customers."
CPS Energy is one of the top public power wind energy buyers in the US and the top solar generation firm in Texas. The firm also provides electric and natural gas infrastructure for Joint Base San Antonio.
The firm intends to increase renewables by 127% by 2040 and decrease gas- and coal-fired generation by 72% and 61%, respectively.
