Allied Properties REIT, Enwave Energy Corp. and RioCan REIT have announced an extension to Enwave’s existing deep lake water cooling and hot water distribution network in Toronto by building a new energy storage facility housed at The Well, a mixed-use residential, commercial and retail development by RioCan and Allied located in Toronto’s downtown west in close proximity to the CN Tower and across from the proposed rail deck park.
The move expands Enwave‘s existing system, providing both The Well and surrounding communities with access to its cooling and heating solutions. The collaboration is being touted as the first one of its kind in Canada.
“This initiative is special in that three, forward-looking companies are collaborating and enabling pioneering ideas to be implemented at a scale greater than each company could achieve alone,” said Carlyle Coutinho, president/COO, Enwave Canada. “The development is a reflection of our joint commitment to build resilient, urban communities incorporating intelligent energy solutions and utilizing future-focused technologies.”
The thermal energy storage facility consists of two 6-million-litre tanks underneath The Well.
The tanks will store temperature-controlled water fed by Enwave’s existing deep lake water cooling system originating in Lake Ontario and a newly developed high-efficiency hot water network.
It will expand the existing system’s capacity with the ability to serve over 20 million sq. ft. of commercial, retail and residential space.
As an anchor site, the installation will serve The Well community, and buildings in neighbouring areas, providing a low-carbon, cooling and heating option for the downtown west community.
“This agreement enables the extension of Enwave’s system to The Well and allows our tenants as well as commercial, retail and residential sites in the downtown west and surrounding areas to conserve energy and reduce Toronto’s carbon emissions,” said Ed Sonshine, RioCan CEO. “This is a growing focus for many Canadians and we are excited that The Well will support these objectives.”
The Well features 1.1 million sq. ft. of office space, 500,000 sq. ft. of retail and food service space, and 1,800 residential units. Construction on The Well commenced in 2017.