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Northland Power has completed the financing for a 250 MW energy storage project in Ontario, Canada. All essential financing has been acquired for the 250 MW/1000 MWh Oneida energy storage facility located in Haldimand County which is Northland’s first investment in energy storage.
Northland owns 72% of the project, which is being developed in partnership with NRStor, Six Nations of the Grand River Development Corporation, and Aecon Group. The total cost for the project is approximately CAD800 million (US$600 million).
Northland plans to commence the commercial operation of the project in 2025. The project will benefit from a 20-year capacity contract with the IESO in Ontario.
