Media Advisory - TC Energy announces issuance of renewable energy Request for Information
April 12 2021 - 08:30AM
TC Energy Corporation (TSE, NYSE: TRP) (TC Energy or the Company)
announced today that it is seeking, through the issuance of a
Request for Information (RFI), to identify potential contract
and/or investment opportunities in wind energy projects that could
generate up to 2,500,000 megawatt hours per year or 620 megawatts
of zero-carbon energy to meet the electricity needs for a portion
of its pipeline assets along its U.S. corridor.
The RFI, issued by Marathon Capital (Marathon) on behalf of the
Company, is non-binding and does not commit TC Energy to any
further action if the indicative terms received pursuant to the RFI
are not satisfactory.
Selection process and timingThe RFI is open
from April 12 to May 10, 2021 and will be issued to approximately
100 renewable development companies to identify suitable wind
energy projects across the Southwest Power Pool (SPP), Midwest
Independent System Operator (MISO) and Electric Reliability Council
of Texas (ERCOT) power regions. RFI responses received will be
reviewed and a shortlist of parties will be invited to move to a
request for proposal (RFP) process during which TC Energy will
conduct detailed due diligence of the projects. All participants
must direct their inquiries through Marathon.
Quote Corey Hessen, TC Energy Senior
Vice-President and President, Power and Storage, said the RFI is an
important step in advancing the Company’s plans to leverage its
Power business as a platform for future growth and diversification,
building on 20 years of expertise and total assets of $100 billion.
TC Energy currently owns or has interests in seven power generation
facilities in four Canadian geographies with combined capacity of
approximately 4,200 megawatts — enough to power more than four
million homes.
“We are exploring opportunities to electrify and use renewable
energy to power certain TC Energy proprietary energy loads,” said
Hessen, adding that the Company is also actively evaluating options
to invest directly in renewable projects where possible.
“Ultimately, our goal is to leverage our existing asset base to add
more renewable generation into our portfolio and the broader
market, resulting in a net reduction of emissions across our North
American footprint,” Hessen added.
About TC EnergyWe are a vital part of everyday
life — delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our 7,500 people make a positive
difference in the communities where we operate across Canada, the
United States and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP.
Media Inquiries:Jennifer Link403-920-7859 or
800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mau403-920-7911 or 800-361-6522
Marathon CapitalJoan
Hutchinsonjhutchinson@marathoncapital.com503-953-3324
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