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Infrastructure bank looks to back big Ontario battery storage project

January 14, 2021   By On-Site Staff

The Canadian infrastructure Bank (CIB) is taking steps toward investing in a major battery storage project in Southwestern Ontario.

The crown corporation signed a memorandum of understanding (MoU) this week with a joint venture comprised of energy storage firm NRStor Inc. and Six Nations of the Grand River Development Corp.

Oneida Energy Storage LP is working is build a 250 megawatt (1000 mW/h) battery storage site that would be the largest project of its kind in the country. Like other such facilities, the proposed site would pull power from the grid during off-peak hours and redistribute it during high-demand times.

According to NRStor, the project could save ratepayers up to $760 million while reducing carbon dioxide emissions by 4.1 million tonnes.

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No details about the cost of the project have been released. The CIB said it plans to carry out further due diligence in the coming months and make a final investment decision this spring.


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