Oneida Energy Storage Limited Partnership (Oneida LP), a consortium in which Aecon Concessions will be an equity partner, executed an agreement with the Independent Electricity System Operator (IESO) for the Oneida Energy Storage Project to deliver a 250 megawatt / 1,000 megawatt-hour energy storage facility near Nanticoke, Ontario. Under the agreement, Aecon was awarded an Engineering, Procurement and Construction (EPC) contract by Oneida LP.
NRStor, the Six Nations of the Grand River Development Corporation (SNGRDC), Northland Power and Aecon Concessions will be the owners of Oneida LP, which will provide electricity storage services to the IESO through a 20-year agreement and receive fixed availability payments from IESO for capacity services, as well as revenue from energy sold into the Ontario electricity grid and operating reserve. Tesla is the battery supplier.
The project is the largest of its kind in Canada and will ensure the supply of clean, reliable electricity capacity for Ontario while reducing greenhouse gas emissions by 4.1 million tonnes – the equivalent of taking 40,000 cars off the road every year. The facility will draw and store existing surplus baseload and renewable energy during off-peak periods and release that energy back to the grid when demand is at its peak. In addition, it will help stabilize Ontario’s electricity sector by providing important grid balancing services and benefits to provincial ratepayers, including reducing the need and cost associated with using gas-fired power plants during times of peak demand.