Allied Properties REIT / Enwave Energy Corp.
Toronto: Allied Properties REIT, Enwave Energy Corporation and RioCan REIT announced February 8 that they were joining forces to extend Enwave’s existing Deep Lake Water Cooling and hot water distribution networks by building a new energy storage facility housed at The Well, a mixed-use residential, commercial and retail development located in Toronto’s downtown west. The joint undertaking will enable westward expansion of Enwave’s system.
The companies say the collaboration is the first of its kind in Canada. It will increase the existing system’s capacity with the ability to serve over 20 million square feet of commercial, retail and residential space. Part of the capacity will enable The Well to act as an anchor site for further neighbourhood growth.
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 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 square feet of commercial, retail and residential space. As an anchor site, the installation will serve The Well community, and buildings in neighbouring areas, providing the first low-carbon, resilient cooling and heating option for the downtown west community.