Islandmagee residents campaign for compensation over Gaelectric plan

Residents of Quarterland Road fear a proposal by Dublin-based renewable energy company Gaelectric to create a compressed air energy storage (CAES) facility will have a devastating impact on the value of their homes.

In a bid to oppose the plans, eight residents – whose properties overlooks the proposed site – have formed the Quarterland Residents Group.

A spokesman for the group told the Times: “The main objective and focus of this group is to pursue compensation with Gaelectric to cover the fall in the market value of the homes of the eight members, which will happen if the CAES project goes ahead.

“A number of the group have already had their homes re-valued by an estate agent and this has shown that the value of their homes will drop dramatically when the project goes ahead.

“The drop in value has probably already happened.”

The Gaelectric project – which represents an investment of £800m – would see the creation of underground caverns to store energy in the form of compressed air.

Salt deposits up to 1900m below ground have been selected as an ideal location for the caverns to be created, with a power station and two 40m high chimney stacks to be located directly above.

The company hopes to submit its application for the project to planners by the end of November.