SPENCERVILLE ON, May 20, 2024 /CNW/ - The St. Lawrence Corridor Economic Development Commission is celebrating Potentia Renewables Inc. (Potentia) business achievement as the Skyview 2 Battery Energy Storage Project secures a ground-breaking contract with Ontario's Independent Electricity System Operator (IESO). The project, a joint venture between Potentia and the Algonquins of Pikwakanagan First Nation, has been chosen to deliver 390 megawatts (MW) of battery energy storage capacity to the Ontario grid, marking the largest such project contracted in Canada's history.

The Skyview 2 project, will be located in the Township of Edwardsburgh Cardinal, Ontario, recently received resounding support from the municipal council and is slated to commence operations in 2027. This initiative embodies a pivotal step towards a sustainable energy future, enhancing grid reliability and effectively balancing energy supply and demand for our region.

Key highlights of the Skyview 2 Battery Energy Storage Project include:

• Project Name: Skyview 2 Battery Energy Storage Project
• Project Owner: PR Development LP, an affiliate of Potentia Renewables Inc., and the Algonquins of Pikwakanagan First Nation
• Technology: Lithium-ion energy storage facility (specific Lithium-Ion chemistry: Iron Phosphate - LFP)
• Capacity: 390MW providing for 4 hours (1,560 MWh)
• Land Use: Located on less than 30 acres of rural land (not prime-agriculture)
• Schedule: Environmental Surveys / Consultation / Preliminary Design (2024), Consultation / Permitting / Detailed Engineering (2025), Construction (2026), Operations (2027)
• Total Project Cost: $750MM
• Number of Battery Containers: Approximately 400, each the size of a 20' shipping container

Additionally, the project boasts several community-centric initiatives, including a Community Benefit Agreement with the Township of Edwardsburgh-Cardinal, promising $300,000 per year for community development. Furthermore, Skyview 2 is projected to contribute approximately $30MM in property taxes over its 30-year operational lifespan.

With its strong capacity and commitment to sustainability, the Skyview 2 Battery Energy Storage Project stands as a beacon of progress in eastern Ontario's energy landscape, setting a precedent for future endeavors across Canada.

Potentia Renewables Inc. is a Canadian-owned renewable energy company headquartered in Ontario. With a portfolio encompassing 1.3 GWs of wind and solar projects across North America, Potentia is a leader in the field, embodying a commitment to innovation and environmental stewardship.

For more information, visit Potentia Renewables Inc.

The St. Lawrence Corridor Economic Commission (SLCEDC) consists of six municipalities along the shores of the St. Lawrence River. Formed in 2017, the SLCEDC focuses on the attraction of new industrial and commercial employers to the region, increasing the quantity and quality of job opportunities for our residents The Corridor also supports the growth of existing scale ups in the industrial commercial sectors.

Chief Greg Sarazin of the Algonquins of Pikwakanagan First Nation expressed pride in the partnership's commitment to sustainable practices, stating, "Our partnership on the Skyview 2 Energy Storage Project represents a powerful step towards integrating sustainable practices that honor our ancestral lands while embracing modern energy solutions."

Ben Greenhouse, CEO of Potentia, echoed Chief Sarazin's sentiment, emphasizing the significance of the project in transforming energy storage and utilization. "This contract is not just a win for Potentia and its partners, the Algonquin of Pikwakanagan, but a leap forward for the industry in Canada," Greenhouse remarked. "It reflects our commitment to innovation and our dedication to contributing to a sustainable future."

Mayor Tory Deschamps welcomes this high impact project stating, "I am extremely excited for Edwardsburgh-Cardinal to become the future home of the SkyView 2 battery storage project.  Potentia and partner First Nation Algonquin of Pikwakanagan will make excellent partners on this historic investment.   Once open in 2027, SkyView 2 will ensure electrical grid stability, spur future investment and provide over a million dollars annually in revenue to the township. This project is only the beginning of many investments in the generational economic security of Eastern Ontario."

Shelley Bacon the Chair of the St. Lawrence Economic Development Corridor Commission expressed his support of the initiative by Potentia and the Algonquins of Pikwakanagan.  "We recognize the grid needs an enhanced level of support for both growth and risk mitigation. This forward-looking project may one day be the critical element in our electrical infrastructure - keeping homes, businesses and industry from freezing up during an extreme weather event.  We, in the industrial sector across eastern Ontario, are only too aware of the constraints placed on manufacturing expansion simply because government has not yet invested in or expanded electrical infrastructure to our part of the province. We are hopeful this news is a first step in recognizing this unsustainable reality.

Charlie Mignault, Commissioner of the St. Lawrence Corridor Economic Development Commission agrees, "This is significant news for our entire region. The market for battery energy storage systems is growing rapidly. Clean energy investments will be a critical element in our regional economy moving forward. More than $5Billion was invested in battery storage systems in 2022 – a 300% increase over the previous year. We expect that globally the market will reach $120-$150 billion (USD) by 2030. We anticipate other elements of the battery value chain to follow such as the manufacturing of storage components including battery cells and packs and of their inverters, housing and other essential components in the balance of system. This market is at an explosive stage of development and we are very happy to have this investment in our Corridor region.

SOURCE St Lawrence Corridor Economic Development Commission