TC Energy plans to make headway on a Community Benefit Agreement in the coming weeks following Meaford council’s conditional support of the proposed pumped storage project.
Ontario Pumped Storage Project Communications Lead Sara Beasley says overall, they are very encouraged by Meaford’s decision.
“Their council decision provides us with the assurance that the work we are doing in Meaford is important to the community, and it demonstrates there is local support for the project,” says Beasley.
Meaford council resolved in a 5-2 recorded vote on Feb. 27 to offer conditional support to TC Energy’s proposed pumped storage project.
TC Energy is currently working through the regulatory process for approval of the construction and operation of a pumped storage facility on Department of Defence lands at the 4th Canadian Division Training Centre.
The municipality doesn’t have any authority over its approval, but can reap some financial benefits by supporting the project and working out a community benefit agreement.
An annual tax equity payment, and support for local road and housing projects were some incentives for the municipality discussed last summer in talks with TC Energy.
Beasley says the agreement is in the early stages of development but is based off four pillars.
“There have been some initial, very early, preliminary discussions taking place, but now that the motion passed last week, we now have the mandate to proceed with advancing those conversations,” says Beasley. “This could change but the four pillars are annual community support payments, construction related mitigation and investments, thirdly training, procurement and contracting, and lastly legacy infrastructure contributions.”
She says over the coming weeks they will be sitting with the municipality and start conversations around a process for negotiating the agreement.
“We are looking to identify key priorities, so the benefits agreement best meets the needs and priorities of the municipality,” says Beasley.
She adds they have also been working with Saugeen Ojibway Nation and are in the process of crafting a partnership agreement with them as well, which includes an equity position in the project.
Beasley says over the next few months, TC Energy will be working to start its environmental assessment process, which she says will be the next major milestone and will take about three years.
“Prior to any construction activity happening, we will need to successfully complete that assessment process, and that includes both a review from the provincial as well as the federal government. Following that, the project will begin construction,” says Beasley.
She says the current anticipated operation date of the facility is 2030.
