New agreement provides up to $4 million in funding to Meaford
TC Energy and the Municipality of Meaford have approved a three-year pre-development agreement to support local priorities while planning and regulatory review activities for the proposed Ontario Pumped Storage Project continue.
The agreement will provide up to $4 million in funding to support community initiatives and to provide capacity for Meaford’s ongoing consideration of the Project. The funding will help ensure Meaford has the resources needed to review project information and participate in ongoing planning and review of the Project.
The Ontario Pumped Storage Project is designed to help connect Ontario's growing electricity system to the reliable, flexible energy storage needed to support growing demand driven by electrification, population growth, manufacturing investment, and expanding industry.
"I am pleased that Council has supported this agreement, allowing the Municipality to build capacity, invest in our community, and support local initiatives while the project continues through the federal review process," said Ross Kentner, Mayor, Municipality of Meaford.
“As we work to connect energy to the people who depend on it, we also strive to connect communities to the opportunities that infrastructure development can create,” said Greg Grant, Executive Vice-President and President, Power & Energy Solutions, TC Energy. “We appreciate the collaborative approach taken by Meaford Council and look forward to continuing to work together as the Ontario Pumped Storage Project advances.”
The agreement recognizes the important role host communities play in planning for major energy infrastructure projects. In 2023, the Municipality of Meaford passed a conditional resolution of support for the Ontario Pumped Storage Project. The Project is currently in the Planning phase of the federal Impact Assessment process.
Through projects like Ontario Pumped Storage, TC Energy is helping strengthen Ontario’s energy future by developing infrastructure needed for generations to come.