VANCOUVER, Sept. 27 /CNW/ - VRB Power Systems Inc. (TSX-V: VRB) announces
that Sustainable Energy Ireland ("SEI"), together with Tapbury Management
Limited, is funding a study to ascertain and quantify the full potential
economic benefits of coupling Vanadium Redox Batteries with wind farms in
Ireland.
The study will focus on Sorne Hill Windfarm, the recently commissioned
32MW windfarm which is located in Buncrana, Inishowen, Co. Donegal ("Sorne")
and which is managed by Tapbury. In particular, the study will focus on the
projected wind output from Phase II at Sorne, which is an additional 6.9 MW of
wind power due to be installed in Fall, 2007, and the benefits of controlled
output as well as additional output that will accrue from coupling a 12 MWH
VRB-ESS to Phase II as recently announced.
An integrated forecasting system will be developed to optimize the
storage element of the VRB-ESS, thereby maximizing the system's ability to
enable smooth delivery of power from Sorne Phase II and other wind farms. The
system will also determine the optimum schedule to release energy in order to
ensure maximum revenues can be generated by the system. The study is expected
to be completed by end of October, 2006 and will be used to determine the
economic potential for battery storage operating in the forthcoming Single
Electricity Market in Ireland. With over 3,000MW of wind energy in the
application process in Ireland, there are estimates that there could be a need
for in excess of 700MW of storage in Ireland to enable the successful roll out
of its most abundant natural resource.
The results of the study will also be used by Tapbury to finalize the
offtake and other commercial agreements relating to wind generation at Sorne
Phase II.
"Given the rapid growth and potential for wind power in Ireland and the
Government's commitment to the greater use of renewable energy in our
electricity generation mix, it is critical that we begin now to examine
technologies which will help us to realise our full potential" said David
Taylor CEO of SEI. "SEI supports the development of innovative solutions and
technologies which can help us to exploit our renewable resources in a
sustainable way while maintaining the security and integrity of our supply
network" he added.
About SEI
Sustainable Energy Ireland (SEI) is the statutory authority charged with
promoting and assisting the development of sustainable energy. SEI is funded
by the Irish Government under the National Development Plan 2000 - 2006 with
programmes part-financed by the European Union. SEI provides energy policy
information to the Government and is responsible for managing a number of
demonstration and Union. SEI provides energy policy information to the
Government and is responsible for managing a number of demonstration and
information dissemination programmes in Ireland. Sustainable Energy Ireland
website is www.sei.ie
About Sorne Wind and Tapbury Management
Sorne Wind Energy Limited is a private company formed to develop a 32 MW
wind farm at Sorne Hill, Buncrana, Co. Donegal, Ireland. The budgeted
development cost for this wind farm is EUR40 million. Construction has been
completed and all 16 turbines have been generating electricity since July
2006. Tapbury Management Limited is a private company formed specifically to
provide administration and management services to Sorne Wind Energy Limited.
This Company will oversee the implementation and the operation of the 12 MWH
VRB-ESS at Sorne.
About VRB Power
Headquartered in Vancouver, Canada, VRB Power Systems Inc. is an energy
storage technology developer which is marketing, selling and manufacturing
products utilizing the patented VRB Energy Storage System ("VRB-ESS(TM)"). The
VRB-ESS can economically store and supply large amounts of electricity on
demand and is focused on stationary applications. It is a long life, cost
effective, low maintenance, efficient technology that allows for the
scalability of power and storage capacity independently. The VRB-ESS is
particularly beneficial to renewable energy providers, utilities and end users
through its ability to "inventory" electricity, allowing for the optimal match
of supply and demand.
The VRB-ESS is well suited for a variety of applications. Enabling the
provision of "firm" capacity from intermittent renewable generation such as
wind and solar; more cost effective and efficient generation of electricity in
remote areas; capital deferral for utilities; and load levelling (peak
shaving) applications. The VRB-ESS is also capable of providing backup power
solutions including applications for utility sub-stations and
telecommunication sites. The VRB-ESS is characterized by having the lowest
ecological impact of all energy storage technologies and is unlike most other
conventional energy storage systems that rely on substances such as lead or
cadmium.
Caution regarding forward-looking statements: VRB Power's press releases
may contain forward-looking statements. These statements are based on
management's current expectations and beliefs which are subject to a number of
known and unknown risks and uncertainties (including, but not limited to, the
risk factors described in VRB Power's Annual Information Form filed with the
British Columbia Securities Commission and available at www.sedar.com) that
could cause actual results to differ materially from those expressed or
implied in our forward-looking statements. The Company does not assume any
obligation to update any forward-looking statements contained in this press
release.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Simon Clarke
Executive Vice President, Corporate Development
