State review is moving along for a Canadian-led plan to build a more than $1 billion energy project near Rosamond that would store enough potential electricity to power 400,000 homes for eight hours by releasing compressed air buried below 500 acre-feet of water.The California Energy Commission voted 4-0 Wednesday to move the project to a more advanced review phase that developer Hydrostor hopes will lead to approval next year and a state subsidy potentially measuring in the tens of millions of dollars.If it wins approval and gets built during an estimated 4½ years of excavation and construction, the 500-megawatt, emissions-free Gem Energy Storage Center would help California balance its renewable energy production with after-hours demand, addressing…
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