The Ministry of Energy, sole shareholder of Complexul Energetic Valea Jiului S.A., has approved at the General Shareholders’ Meeting the signing of a Framework Cooperation Agreement between CEVJ and an Australian investor, a document aimed at prospecting for energy storage in seventeen mine wells, the Energy Ministry said in a press release.
“Complexul Energetic Valea Jiului S.A. (CEVJ) and Green Gravity today signed a Framework Cooperation Agreement to explore the possibility of applying Green Gravity’s innovative energy storage technology in seventeen mine shafts in the four mining operations in the Jiului Valley in Romania.
The agreement outlines the scope and objectives of a joint study to assess the technical, economic and environmental aspects of converting CEVJ’s existing coal mines into energy storage facilities using Green Gravity’s proprietary technology and expertise. The study will also assess the potential benefits and challenges of integrating energy storage with the existing electricity grid and renewable energy sources.
The agreement represents a strategic partnership between the CEVJ and Green Gravity, as both parties share a common vision of advancing the energy transition and reducing greenhouse gas emissions, while creating new opportunities for economic development and social welfare. The agreement is also in line with the European Union’s Green Pact, which aims to make Europe the first climate-neutral continent by 2050,” the press release said.
“I welcome this initiative, which demonstrates the potential of cooperation between Romania and Australia in the field of clean energy and climate action. I support CEVJ and Green Gravity’s efforts to explore the feasibility of storing gravity energy from old mine shafts, which could provide a viable solution to improving the flexibility and resilience of our energy system, securing a future for the Jiu Valley while gradually reducing our dependence on fossil fuels. We are quickly taking the first steps in reinventing the new company Complexul Energetic Valea Jiului, a chance for development and new jobs for the entire region,” said Sebastian Burduja, Minister of Energy.
“We are delighted to partner with CEVJ on this innovative project, which has the potential to transform Romania’s coal sector into a renewable energy storage hub, creating jobs, growth and innovation. Our technology offers a unique solution for storing excess renewable energy using gravity, which can help balance the electricity grid and support the EU’s climate goals,” said Mark Swinnerton, CEO of Green Gravity.
“The successful implementation of gravity energy storage in the Ji Valley will provide a leading example for the successful transition of a coal mining region. This project has global implications for climate, jobs and investment. The Green Gravity energy storage technology is an innovation in the quest for long-term, cost-effective renewable energy storage. By reusing mining assets, costs can be kept low. By using gravity as a fuel, we dispense with the critical consumption of water, land and chemicals that other storage technologies rely on,” the company official added.
“We are pleasantly impressed to partner with Green Gravity, a world-class clean energy company. This project is part of our strategy to diversify our energy portfolio and explore new opportunities to create value from our coal assets. We believe that gravitational energy storage is an innovative approach to the energy transition and we are committed to contribute to Romania’s and Europe’s energy transition and to green regeneration”, said Eusebiu Durbaca, CEVJ’s Director General
“Green Gravity develops and operates state-of-the-art systems for storing gravitational energy. The Green Gravity energy storage system moves large weights vertically in legacy mine shafts to capture and release the gravitational potential energy of these weights. By simply utilizing proven mechanical parts and unutilized mine shafts, Green Gravity’s energy storage technology is low-cost, long-life and environmentally attractive. To manage the inherent variability of renewables, energy storage needs to be added to electricity grids. The technology solution utilizes conventional mechanical components to enable the installation of low-cost energy storage at legacy mine sites,” the Ministry of Energy adds in the release
Here’s a video explaining how gravitational energy storage works. In essence, a system of weights is lifted (then energy is consumed) and then let down when needed – then energy is produced.