Share of renewable energy for electrical energy is increasing every year. Major part of the renewable energy such as solar and wind energy are intermittent and fluctuating. Pumped Hydro technique and compressed air energy storage (CAES) technique are proven technologies for MW scale but they are highly geography dependent. A new concept of energy storage is discussed in this paper which is site independent and flexible charging time. In this concept, there are two thermal cycles; one is charge cycle which is used to store energy and discharge cycle which is used to generate electricity from stored energy. A charge cycle works based on the closed loop heat pump principle. Discharge cycle is an organic Rankine cycle which utilises stored heat and produces electricity. This concept has a major advantage of hybridising charge cycle with any waste low grade heat for improving COP and overall round trip efficiency.