TC Energy shuts equity financial investment in hydro energy storage project

May 21, 2020 05:40 PM ET
  • North American energy firm TC Energy has actually made an equity financial investment consequently Point Generation (TPG), a subsidiary of WindRiver Power.
TC Energy shuts equity financial investment in hydro energy storage project

TPG is the developer and also proprietor of the pumped hydro energy storage center called Canyon Creek project.

Financial information of the financial investment have actually not been disclosed by both business.

WindRiver head of state as well as CEO Kipp Horton stated: "We are thrilled to be signed up with by TC Energy ahead of time the Canyon Creek Project to its start of building, which we prepare for by year's end.

" TC Energy's superior credibility, monetary stamina as well as intimate functioning understanding of the Alberta electrical power market make it an optimal enhance to WindRiver's knowledge in hydro plant building and construction as well as procedure."

With a preliminary ability of 75MW, the Canyon Creek project's producing capacity can be enhanced to 400MW.

Situated near Hinton, Alberta, the project utilizes existing website facilities of a deactivated open-pit coal mine.

The business kept in mind that the pumped hydro energy storage will certainly have the capability to provide approximately 37 hrs of on-demand tidy energy as well as secondary solutions to the Alberta electrical energy grid.

In addition, the project safeguarded authorization from Alberta Utilities Commission along with acquired authorization from the Alberta Government for hydro projects under the Canyon Creek Hydro Development Act.

TC Energy power and also storage and also Mexico principal running policeman as well as head of state François Poirier claimed: "We are expecting dealing with TPG as well as including the Canyon Creek Project to our expanding profile of energy storage leads", claims

" We think that large, strategically-sited and also long-duration energy storage is the essential to opening the complete capacity of renewable resource as well as relocating in the direction of a reduced carbon impact in Alberta's electrical power grid."

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