TC Energy Corporation (formerly TransCanada Corporation) has completed an undisclosed equity investment in Turning Point Generation (TPG), the developer and owner of the 400 MW Canyon Creek pumped-storage power project in the western Canadian province of Alberta.
“We are excited to be joined by TC Energy in advancing the Canyon Creek [roject to its commencement of construction, which we anticipate by year’s end,” said Kipp Horton, president and 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”, said François Poirier, chief operating officer and president, power and storage for TC Energy. “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 to a lower carbon footprint in Alberta’s electricity grid.”
The closed-loop, off-stream project will have an initial capacity of 75 MW (expandable up to 400 MW), and will use 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 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.