The Ontario Government says it’s advancing pre-development work for the proposed TC Energy Pumped Storage Project in Meaford.
The province says it’s investing up to $285 million to advance this work which includes the completion of a detailed cost estimate and environmental assessments to determine the feasibility of the proposed project.
It says it will make a final decision on the project once a detailed cost estimate is complete.
Energy Minister Stephen Lecce says in a statement, “The Ontario Pumped Storage Project has the potential to store and deliver clean, affordable energy for decades, representing Canada’s largest clean energy storage project. This project can only proceed following this work and the successful approval of Bruce’s expansion plans, as this storage is a critical part our larger energy build out. I look forward to working with the Saugeen Ojibway Nation, local municipal leaders and TC Energy to explore the next step to meet soaring electricity demand.”
The facility would function by pumping water from Georgian Bay up to a reservoir during periods of low electricity demand and releasing the water back into Georgian Bay to generate electricity during periods of high demand.
The provincial government says the proposed project would, “complement other actions government is taking to meet rising demand, including pre-development work for a new large-scale nuclear station at Bruce Power. Building Bruce C would provide the large amounts of clean, zero-emissions power necessary to fill the storage facility.”
In a release, the Ontario Government says, “According to the Canadian Centre for Economic Analysis, a potential pumped storage project in Meaford would contribute $6.2 billion to Ontario’s GDP over an estimated 50-year project life, which includes design, construction and operation. The project’s economic impact would primarily benefit rural communities in Ontario, which would see about 60 per cent of the supported economic activity. The project would support more than 1,700 construction jobs during the four-year construction period.”
TCE is proposing the project in partnership with the Saugeen Ojibway Nation. If constructed, the Saugeen Ojibway Nation would have the opportunity to enter into an equity partnership with TCE, which could provide stable long-term economic benefits to their Nation.
A joint statement from Saugeen Ojibway Nation Chiefs Greg Nadjiwon and Conrad Ritchie say, “The Ministry of Energy and Electrification continues to acknowledge that development of energy infrastructure will only be successful with the participation and leadership from Indigenous Nations. This project is an overdue energy initiative with real benefits for the Indigenous people of the land.”
The Province notes, Canada’s only other pumped storage facility is Ontario Power Generation’s Sir Adam Beck Pump Generating Station. It’s a 174 megawatt facility that pumps water from the Niagara River into a 300 hectare reservoir for energy storage.
According to Ontario’s Independent Electricity System Operator (IESO), the province’s demand for electricity is forecast to increase by 75 per cent by 2050, the equivalent of adding four and a half cities the size of Toronto to the grid.
Minister of Rural Affairs and Huron-Bruce Progressive Conservative MPP Lisa Thompson says in a statement, “It is critical to provide Ontario’s small towns and communities with confidence that our government is prioritizing energy and infrastructure, so that they can continue to capitalize on economic development opportunities. With this investment, we are advancing clean energy, while ensuring that we build capacity in our energy sector to meet demand.”
Bruce-Grey-Owen Sound Progressive Conservative MPP Rick Byers says, “As demand for energy increases, I want to thank Minister Lecce for his support and for advancing this project forward for further consideration. I also want to thank TC Energy and the Saugeen Ojibway Nation for their ongoing hard work and dedication, as we explore how this project could bring real benefits for local communities.”