Project Name: Oneida Energy Storage
Partner: Oneida Energy Storage LP
Location: Southwestern Ontario
Sector: Clean Power
Participation: $170 million
Description: Oneida Energy Storage LP, a joint venture between NRStor Inc. and Six Nations of the Grand River Development Corporation, is developing a
250 megawatt/1000 megawatt-hour energy storage facility.
The Oneida Energy Storage project will provide clean, reliable power capacity by drawing and storing renewable energy during off peak periods and releasing it to the Ontario grid when energy demand is at its peak. The facility is expected to provide significant benefits to Ontario’s ratepayers by reducing the need and cost associated with using gas-fired power plants during times of peak demand. The project will help Ontario reduce greenhouse gas emissions by 4.1 million tonnes, or the equivalent of taking 40,000 cars off the road every year.
Oneida Energy Storage LP will create internship opportunities for Six Nations community members and result in training and employment opportunities.
Benefits of the CIB Involvement
The CIB is collaborating with Oneida Energy Storage LP and a team of industry-leading advisors to complete project analysis on what would be the largest energy storage facility in Canada.
- Six Nations of the Grand River Development Corporation
- Canada Infrastructure Bank Signs Memorandum of Understanding for Oneida Energy Storage
- Canada Infrastructure Bank to invest up to $170 million in one of the world’s largest clean energy storage projects
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