TC Energy has recently announced that the Canadian Ministry of Energy is set to begin the final evaluation stage of the proposed Ontario Pumped Storage Project. This highly anticipated decision is expected to be reached by November 30.
The visionary project aims to address Ontario’s energy demands by leveraging pumped storage technology. During periods of low electricity consumption, water will be pumped from Georgian Bay into an upper reservoir. Subsequently, when demand for electricity surges, the stored water will be released through a turbine, generating clean energy.
What makes the Ontario Pumped Storage Project truly groundbreaking is its capacity. TC Energy estimates that it will have the ability to store enough clean electricity to power one million homes for a remarkable 11-hour duration. Undoubtedly, this project would be Ontario’s most significant energy storage initiative.
However, before full implementation can occur, the project must secure approval from TC Energy’s board and establish a successful partnership agreement with the Saugeen Ojibway Nation. The company remains confident in achieving these milestones and anticipates making a final investment decision by 2024.
If all goes according to plan, the Ontario Pumped Storage Project is projected to be operational by the early 2030s. This ambitious endeavor underscores TC Energy’s commitment to sustainable energy solutions for the future.