Patent-family-89535828

A power balancing system and process is provided, in which a first electrolysis unit (10) outputs a first hydrogen rich stream (11), which is converted in a methanol synthesis plant (20) to a first methanol-rich stream (21). A methanol storage unit (40) receives and stores the first methanol-rich stream (21). When additional electrical power is required, methanol from the methanol storage unit (40) can be used for power generation. The system and process allow excess electrical power to be converted into and stored as methanol during periods of low demand, and used to generate electrical power when demand is higher.