KPMG, the liquidators of Irish renewables developer Gaelectric, has withdrawn a planning application for the latter’s proposed 330MW Larne compressed-air energy storage project in Northern Ireland.
Gaelectric submitted plans in December 2015 to Northern Ireland’s Department for Infrastructure to build a demonstration project in Islandmagee.
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The company, which went into liquidation last year, had hoped to find a buyer for the project awarded a EU grant of €90m in February 2017 on top of earlier European assistance granted in 2016 and 2015.
The project would have required the development of three 230,000 cubic-metre salt caverns approximately 1.5km below ground level to store compressed air and provide between six and eight hours of energy.