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TC Energy Appoints Worley to Advance Ontario Pumped Hydro Energy Storage Proposal

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Sig2.30Sen+2.20Env+4.20Soc+1.30Gov+1.10

TC Energy’s pumped hydro energy storage would shift water from Georgian Bay to an elevated reservoir at off-peak times and generate electricity during high-demand periods, aiming for low-cost, low-carbon power. The 2019 proposal is priced at about US$3.25 billion, with a 2023 plan to start construction in 2024 pending final provincial approval after a request for broader societal and economic analysis. The Canada Energy Regulator notes Ontario Power Generation’s Sir Adam Beck project as the only active PHES, alongside other PHES and storage

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