The effort in Canada’s most populous province aims to reduce reliance on natural gas-fired power generation and save Ontario electricity consumers C$250 million ($200 million) a year while cutting greenhouse-gas emissions by 490,000 metric tons, according to the Calgary-based company.
TC Energy, which owns and operates pipelines and power plants across North America, is tapping into a growing push to develop more cleaner energy storage facilities as part of efforts by governments and industry to shift away from fossil fuels and reduce emissions through less polluting technologies.
Power and storage is the smallest of TC Energy’s three main businesses, bringing in 3.3% of revenue last year compared to about 78% for natural gas pipelines and 18% from oil pipelines, according to Bloomberg data. TC Energy’s Ontario project will take eight years to build and is subject to a number of conditions, including regulatory approvals and assurances that the project won’t affect military activities and training.
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Canadians Should Decide What to do With Their Money – Not Politicians and Bureaucrats