24 Nov 2009 08:00
For immediate release: 24 November 2009, 8AM
SIRIUS EXPLORATION Plc - AIM: SXX, OTC: SRUXY
("Sirius" or "the Company")
Sirius partners with EPRI to design CAES Bulk Energy Storage Facility in North Dakota
Sirius Exploration Plc (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused on salt and potash deposits in North America and Australia, is pleased to announce that its wholly owned subsidiary, Dakota Salts LLP ("Dakota Salts"), has engaged with the Electric Power Research Institute (EPRI) to conduct a formal Cost-to-Benefit Analysis for a Bulk Energy Storage (BES) facility for a 134MW electrical power generation plant in North Dakota - a region that lies within the Midwest Independent System Operator (MISO) territory. The work with EPRI forms an integral part of the Company's ongoing development activity to identify second generation commercial applications for its properties that can be deployed concurrently or after the mining phase has concluded.
Sirius's properties in North Dakota fall within a recognized region of the US identified by the Obama administration for wind farm energy development. However, it is recognized that the inherent variability of wind power generators poses additional challenges for the electrical grid relating to system stability and reliability. Cost-effective and reliable Bulk Energy Storage will be a vital component of the electric grid of the future. Bulk Energy Storage addresses the challenges posed by high renewable energy penetration, provides additional services, and enhances the cost effectiveness of grid operation.
The value streams associated with Bulk Energy Storage include load leveling/peak shaving (moving off-peak power to high demand periods), avoidance of renewable energy spillage, fast ramping regulation (up and down) with efficient part load performance for following variable load and renewable generation, enhancement of grid stability by operation as either a load or generation source, frequency regulation, black start service, spinning reserve service, reduced cyclic maintenance/damage to thermal generators, transmission deferral and a mechanism for helping to achieve the meaningful CO2 reductions that wind power has the ability to deliver.
Under the scope of work to be conducted on behalf of Dakota Salts EPRI will initially establish the generic performance and operating specifications for a MISO based Bulk Energy Storage installation supporting a 134MW capacity facility, followed by capital cost estimations for such a Bulk Energy Storage plant. Based on those calculations, EPRI will then conduct a full optimal dispatch and cost/benefit analysis based on both historical MISO price data and projections for future MISO prices based on increased wind penetration.
Richard Poulden, Chairman of Sirius, commented:
"We are delighted that EPRI have agreed to work alongside Dakota Salts on this project. EPRI are uniquely positioned within the US energy market to be able to provide key data and insights that will be fully respected within the industry. This will in turn help us to define more clearly the long term development roadmap for our North Dakota property."
Dr. Sean Wright, Senior Project Manager Bulk Energy Storage, of EPRI added:
"Over the next six months, we look forward to identifying the most appropriate Bulk Energy Storage facility for Dakota Salts' needs. Bulk energy storage is a crucial technology to help integrate large scale renewable resources such as wind, a key to a cleaner and more environmentally sound energy future."
-ENDS-
About Sirius
Sirius is quoted on the AIM market of the London Stock Exchange in London and its shares are also traded in North America through the use of an ADR facility. Sirius currently has interests in potash and salt caverns through its subsidiaries Dakota Salts LLC, AusPotash Limited, Adavale Holdings Pty Ltd and Derby Salt Pty Ltd. It also has copper and gold interests in Macedonia and an iron ore interest through its equity position in a CIC Mining Resources Ltd vehicle. For more information, visit www.siriusexploration.com
About EPRI
The Electric Power Research Institute Inc., (EPRI, www.epri.com) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, health, safety and the environment. EPRI also provides technology, policy and economic analyses to drive long-range research and development planning, and supports research in emerging technologies. EPRI's members represent more than 90 percent of the electricity generated and delivered in the United States, and international participation extends to 40 countries. EPRI's principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; and Lenox, Mass.
Further Information:
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Toby Hall Tel: +44 (0)20 7153 8039
Christian Pickel Tel: +44 (0)20 7153 8036