The governments of Canada and Ontario are working together to build the largest battery storage project in in the country.
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The 250-megawatt (MW) Oneida Energy storage project is being developed in partnership with the Six Nations of the Grand River Development Corporation, Northland Power, NRStor and Aecon Group.
The federal government is providing a further $50 million in funding; the Canada Infrastructure Bank has played a key role supporting project development and is collaborating with the Oneida Energy storage project on an investment agreement.
This project is another milestone in Canada and Ontario’s plans to build the reliable and affordable clean electricity grid that will help to power the future of Ontario’s economy.
“When our two governments work together, in partnership with Indigenous communities, we can help to build a stronger economy and a more sustainable province,” said the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance.
“With this new federal investment—and significant support from the Canada Infrastructure Bank—this project will help make electricity more affordable for Ontario families, and play an important role in building the clean electrical grid that Ontario will count on for generations to come.”
Ontario has directed the Independent Electricity System Operator (IESO) to enter into a 20-year contract for the Oneida Energy storage project to support the growth of the province’s clean energy supply.
The Oneida Energy storage project is in addition to actions already taken by the federal and provincial governments plan to meet emerging energy needs and ensure a reliable, affordable and clean electricity supply.
The Oneida Energy storage project is expected to reduce emissions by between 2.2 to 4.1 million tonnes, the equivalent to taking up to 40,000 cars off the road.
Ontario’s electricity grid is more than 90 per cent emissions free. Energy storage will allow the storage of baseload generation like nuclear and hydro, while also supporting the integration of intermittent resources like wind and solar. ■