Toronto-based smaller-scale solar project developer SolarBank Corp (CNSX:SUNN) this week said it has been awarded three battery energy storage projects in the Ontario Independent Electricity System Operator’s (IESO) Expedited Long-Term 1 Reliability Procurement.
Located in different areas of Ontario, the projects each have a 4.99-MW discharge capacity with a four-hour duration, or a total of 60 MWh, and use lithium-iron-phosphate technology.
The proposals were submitted by SolarBank on behalf of investors, Solar Flow-Through Funds and two First Nations communities in Ontario.
The batteries should be in operation by the end of April 2026. They are expected to be backed by 22-year contracts with guaranteed capacity payments from the IESO and to also earn revenue from the energy and ancillary markets in Ontario.
IESO said on Thursday that its competitive expedited procurement has added a further eight facilities and 142 MW to the province’s planned storage fleet. Together with the first tranche of storage announced in May, the total capacity is 882 MW.
Source: renewablesnow
