TC Energy Invests in Alberta Pumped Hydro Energy Storage Project
CALGARY, May 20, 2020 /PRNewswire/ – WindRiver Power Corporation is pleased to announce that TC Energy Corporation has closed an equity investment in Turning Point Generation (“TPG”), a WindRiver subsidiary. TPG is the developer and 100 per cent owner of the Canyon Creek Project, a planned pumped hydro energy storage facility to be located near Hinton, Alberta.
“We are excited to be joined by TC Energy in advancing the Canyon Creek Project to its commencement of construction, which we anticipate by year’s end”, said Kipp Horton, President & CEO of WindRiver. “TC Energy’s outstanding reputation, financial strength and intimate working knowledge of the Alberta electricity market make it an ideal complement to WindRiver’s expertise in hydro plant construction and operation.”
“We are looking forward to working with TPG and adding the Canyon Creek Project to our growing portfolio of energy storage prospects”, says François Poirier, Chief Operating Officer and President, Power & Storage and Mexico. “We believe that large-scale, long-duration and strategically-sited energy storage is the key to unlocking the full potential of renewable energy and moving towards a lower carbon footprint in Alberta’s electricity grid.”
The Canyon Creek Project
The Canyon Creek Project will have initial generating capacity of 75 MW (expandable through future development to 400 MW) and utilizes existing site infrastructure from a decommissioned open pit coal mine. The 75 MW facility will provide up to 37 hours of on-demand, flexible, clean energy and ancillary services to the Alberta electricity grid. The closed-loop, off-stream design of the facility will significantly reduce any potential adverse environmental impacts to Alberta’s natural river courses. The Canyon Creek Project has received the approval of the Alberta Utilities Commission and the required approval of the Alberta Government for hydro projects under the Canyon Creek Hydro Development Act, passed with bi-partisan support by the Alberta Legislature. More information can be found at www.turningpointgeneration.ca
About TC Energy
We are a vital part of everyday life – delivering the energy millions of people rely on to power their lives in a sustainable way. Thanks to a safe, reliable network of natural gas and crude oil pipelines, along with power generation and storage facilities, wherever life happens – we’re there. Guided by our core values of safety, responsibility, collaboration and integrity, our more than 7,300 people make a positive difference in the communities where we operate across Canada, the U.S. and Mexico. TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP.
About WindRiver Power
WindRiver Power is engaged in the development, ownership and operation of renewable energy projects in Western Canada and internationally, with a focus on run-of-river hydro, wind generation and, through TPG, pumped hydro energy storage.
SOURCE WindRiver Power Corporation