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Major players operating across the market include
Continuous innovations toward advanced thermal energy storage systems to enhance the demand for uninterrupted power supply will upsurge the market demand.
For instance, in October 2022, McDermott signed a deal with Hydrostar Incorporated for engineering design of Silver City Energy Storage Project located in New South Wales, Australia. The contract will provide full FEED services for a 200 MW compressed air energy storage project which can discharge electricity up to eight hours at a time.