VRB Power Announces Progress with Sorne Hill Project and Hires Kieran O'Brien to Assist in Developing Energy Storage Adoption in Irish Market

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[{"type":"text","content":"\n\n\n\nRICHMOND, BC, July 8 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB), a world\nleader in innovative energy storage solutions, is pleased to announce recent\ndevelopments regarding the pending sales contract for a large scale VRB Energy\nStorage System (VRB-ESS(TM)) at the Sorne Hill Wind farm, located in Buncrana,\nIreland ("Sorne"). In addition, VRB Power has contracted Mr. Kieran O'Brien, a\nprevious Managing Director of Ireland's Energy Supply Board (ESB), to assist\nthe company in its storage adoption objectives within the Irish market.\n\n\nSeveral developments have occurred within the Sorne wind farm project.\nPrimary amongst these have been the internal ownership restructuring within\nTapbury management, advancements in planning approvals and quantifications of\nvalue streams. Several additional steps are in progress including conclusion\nof licence applications for the VRB-ESS, final building design and trading\nlicense. Construction of the 6MW wind farm is complete to foundation stage.\nWind turbine delivery is expected in the next three months. VRB Power\ncontinues to work closely with Tapbury Management and Sustainable Energy\nIreland to complete the requirements necessary to finalize the pending\ncontract.\n\n\nVRB Power has also recently contracted Mr. Kieran O'Brien to assist the\ncompany in its storage adoption objectives within the Irish market.\n\n\n"We believe that the economics of energy supply in Ireland and the\npolitical realities of the EU emission reduction targets will require energy\nstorage of several hundred MW in order to allow wind penetration levels to\nreach 20% or more," states Tim Hennessy, CEO of VRB Power, "There are several\npotential value streams and monetising them requires considerable local\nknowledge and credibility. Mr O'Brien will be involved in determining a\nstrategy to address any issues on the adoption of storage for VRB Power's\nenergy storage products and assessment of infrastructure the company should\nestablish in Ireland such as services and project management capabilities\nincluding tertiary institution involvement for value engineering" concludes\nHennessy.\n\n\nMr. O'Brien retired three years ago from his position as Managing\nDirector of ESB National Grid, Ireland's independent transmission system\noperator. He served as a member of the E...

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