Canada Infrastructure Bank signs MoU for Oneida Energy Storage project development

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The Canada Infrastructure Bank (CIB) and Oneida Energy Storage LP have signed a Memorandum of Understanding (MOU) for the Oneida Energy Storage project in Ontario. Oneida Energy Storage LP is a joint venture between NRStor Incorporated and Six Nations of the Grand River Development Corporation.

The MOU confirms the CIB's collaboration with Oneida Energy Storage LP in support of the project. The CIB and Oneida Energy Storage LP have an agreement on the parameters around a CIB investment in the project, which will be confirmed by further due diligence and a final investment decision in spring 2021. 

Representing the largest project of its kind in Canada, the proposed Oneida Energy Storage project includes the development of a 250 megawatt / 1000 megawatt-hour energy storage facility in Southwestern Ontario.

The facility would provide clean, reliable power capacity. It would draw and store existing surplus baseload and renewable energy during off-peak periods. Power would be released to the Ontario grid when energy demand is at its peak. In addition, the energy storage facility would help stabilize Ontario's electricity sector by providing important grid balancing services.

List of the country updates

Country updates

  • May 20, 2021

    Razor Energy starts construction in 21 MW geothermal-gas hybrid project in Alberta

    FutEra Power Corp., a subsidiary of Razor Energy Corp., a publicly-traded Alberta-based junior oil and gas company, starts the construction of its co-produced Geothermal Power Project in Swan Hills, A...

    Read more
  • May 12, 2021

    Pembina, TransAlta sign PPA for 130 MW Garden Plain Wind Power Project in Alberta

    TransAlta Corporation has entered into a long-term Power Purchase Agreement (PPA) with Pembina Pipeline Corporation for the offtake of 100 MW from its proposed 130 MW Garden Plain Wind Power Project,...

    Read more
  • May 05, 2021

    Budweiser offtakes power from 75 MW Enchant solar project in Taber

    Budweiser has announced a virtual power purchase agreement (VPPA) with Capital Power. The agreement includes approximately 51% of the electricity generated by a new solar facility in Taber, Alberta. O...

    Read more
  • April 29, 2021

    Capstone, Obton complete 132 MWac Claresholm Solar Project in Willow Creek

    Capstone Infrastructure Corporation, along with its partner Obton, has achieved commercial operation of the 132 MWac Claresholm Solar Project. Claresholm Solar is located in the Municipal District of...

    Read more
  • April 26, 2021

    BluEarth Renewables, Shell sign long-term PPA for 130 MW Hand Hills Wind Project in Drumheller

    BluEarth Renewables, through its subsidiary, BER Hand Hills Wind LP, has signed a long-term Power Purchase Agreement (PPA) with Shell Energy North America (Canada), Inc. The PPA will directly support...

    Read more

Share this update