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Tesla Megapack will help in another energy storage project in Canada. Toronto-Dominion Bank's asset-management arm is launching a project, valued at tens of millions of dollars, to install Tesla battery arrays utilizing Megapack in Alberta.
WCSB Power Holdings, owned by TD Greystone Infrastructure Fund, is purchasing three sets of Tesla Megapack, Drive Tesla Canada reported. The batteries will store energy and help balance and ensure the reliability of the province's power grid as renewable electricity is added. The total capacity of the project is 60 megawatts.
The project, dubbed eReserve, will increase energy production from wind and other renewable energy sources. Meanwhile, major electricity producers in Alberta are shifting from coal to renewable energy. Tesla provides the company with everything it needs to accelerate the transition to sustainable energy sources, which is fully in line with its goals.
Source: Renew Economy
The project is also in line with TD Greystone's clean energy orientation. The company has assets in Canada, the United States and Europe, and 49% of its assets are in renewable energy sources, according to The Globe and Mail.
“We are an active investor in green energy, sustainable energy, and that’s extremely important for us,” said Jeff Mouland, managing director and head of infrastructure for the unit of TD Asset Management. "So when we have an opportunity to go into a market and provide a service to that market with the concept of a green angle, we will do that."
The plan provides for the construction of three blocks of 20 megawatts. The first is currently under construction at Rycroft, northern Alberta. It is slated to be operational in December 2020. Plants at Buffalo Creek and Grand Prairie, also in northern Alberta, are slated to be built and connected by mid-2021. Calgary-based WCSB Power will own and manage the equipment for all three sites. TERIC Power Ltd. is designing and managing construction. The eReserve project will be the largest battery development in Alberta, but not the first.
Mr. Mouland said TD will be looking to expand its use of battery storage globally when the Alberta project is completed. “Social and environmental pressures are starting to push the generation mix to more renewable generation,” he said. “Traditionally, that’s been wind and solar and hydro, and as technology has improved over the last couple years, battery storage and battery generation is becoming an increasingly large part of that story.”
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