From left to right, Sashen Guneratna, managing director of investments at the Canada Infrastructure Bank, Carlyle Coutinho, CEO of Enwave Energy Corp, and Todd Smith, Ontario’s minister of energy, pose for a photo together to celebrate the groundbreaking at the Pearl Street Energy Centre in downtown Toronto.Toronto, ON — The ground has been broken for a new low-carbon heating facility in Toronto. The Pearl Street Energy Centre, owned by Enwave Energy Corp, will feature the installation of new assets that recycle district waste heat to produce hot water via electrification using dual-use heat pumps, electric feeds, and generators.
“The addition of a low carbon heating facility to our Pearl Street Energy Centre is a significant milestone for us and Toronto’s district energy grid because it allows us to provide decarbonization at scale,” said Carlyle Coutinho, CEO of Enwave Energy Corporation.
This technology is optimized due to the scale and magnitude of buildings connected to Enwave’s heating and cooling district.
When fully utilized, Enwave’s low-carbon heating facility will provide enough low-carbon heating to reduce emissions in Toronto by approximately 11,600 tonnes of carbon dioxide equivalent (tCO2e), which is the equivalent of converting over 10 million sq. ft. of office space to net zero, reports Enwave.
The Pearl Street Energy Centre expansion and renewal project is supported financially by a grant from Canada’s Low Carbon Economy Fund, Champions Stream and a $600 million loan commitment from the Canada Infrastructure Bank (CIB) to accelerate the scale and build-out of Enwave’s low carbon systems in Toronto and Mississauga.