CALGARY | October 6, 2020
WCSB Power Holdings Inc (“WCSB Power”) is pleased to announce it has entered into an agreement to acquire and construct Canada’s largest battery storage project (“eReserve” or the “Projects”), located in Alberta, Canada. Once built, the Projects will consist of up to 60 MW total nameplate capacity of Tesla Megapack Batteries, providing energy balancing and grid frequency regulation services that support Alberta’s ongoing growth toward sustainable energy.
WCSB Power acquired the 20 MW eReserve 1 application in May, 2020 (the “Agreement”) from Teric Power Ltd (“Teric”), who has also been engaged to oversee the design and construction of the project. Construction of eReserve 1 commenced in September with Iconic Power Systems Inc (“Iconic”) being awarded the general works contract for the eReserve 1 project. The Agreement also provides the contractual option for WCSB Power to construct and operate two additional 20 MW battery projects, eReserve 2 & 3, scheduled to be in service in 2021. Once the three eReserve projects have been constructed, WCSB Power will operate the largest fleet of Tesla Megapack batteries in Canada.
The Tesla Megapack batteries will provide various operational strategies to support Alberta’s transition to a sustainable power grid. The objective of this investment will focus on the delivery of sustainable energy, renewable generation smoothing, system voltage, and capacity support, as well as grid frequency regulation. WCSB Power has collaborated with URICA Energy Asset Optimization Ltd. (“URICA”), an Alberta based, market leading service provider of energy management service provider.
“We are proud to partner with URICA, an industry leader in power management, to optimize and manage the operation of this innovative investment. URICA will leverage its expertise within the energy management space to ensure adequate grid frequency regulation and load balancing,” said Matt Braaten, President & CEO of WCSB Power. “URICA will deliver on WCSB Power’s planned optimization strategy of ensuring reliable distribution of power to customers for years to come in order to meet the AESO’s objectives as outlined in the Energy Storage Roadmap.”
WCSB Power was advised by Burstall LLP, Alvarez and Marsal ULC and AON Canada on this transaction.
WCSB Power is a privately held, technology-focused power generation company, engaged in the acquisition and operation of electrical generating assets in Western Canada. Our facilities store and generate electricity. Our electrical generation assets utilize produced gas, sales gas and waste heat produced by large midstream, exploration and production companies. Our battery energy storage systems facilitate the delivery of sustainable energy, renewable generation smoothing, system voltage and capacity support, as well as grid frequency regulation.
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