Enfinite Announces Addition of 40 MW of Energy Storage onto Alberta Electricity Grid

CALGARY, Alberta, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Enfinite, a North American leader in energy storage, is pleased to announce, through its eReserve battery storage program, it has financed and developed two more energy storage projects that are now operational and supporting Alberta’s electricity grid.

Enfinite’s eReserve3 and eReserve5 projects are providing increased reliability to Alberta’s electrical system utilizing state-of-the-art energy storage technologies. The eReserve3 project is a 20-megawatt battery storage project located in the County of Grande Prairie in northwest Alberta. The eReserve5 project is also a 20-megawatt project located in the Municipal District of Provost in east-central Alberta. With the addition of these operations, Enfinite currently has four operational battery storage facilities in Alberta capable of storing 140 MWh of energy.

“We are excited to announce the energizing of two more eReserve projects,” says Jason White, Chief Operating Officer for Enfinite. “Overall, our eReserve program will help modernize Alberta’s electricity system, reduce electricity transmission costs, provide a solution to the issue of renewable intermittency, and help ensure affordability for consumers.”

Enfinite is Canada’s largest battery storage operator with 315MWh of storage in operation or under construction. Enfinite also has over 900MWh of battery storage and associated equipment committed to active projects this year and a project pipeline of over 4000MWh planned for various jurisdictions across Canada.  

Enfinite’s significant investments in energy storage solutions are designed to support decarbonization, meet federal and provincial mandates for clean power, increase grid reliability, and maintain affordability for consumers.

“Canada needs solutions that not only enables the decarbonization of the electrical system but does so in a responsible way that maintains reliability and affordability through the leveraging of our current infrastructure,” says White. “At Enfinite, we are at the forefront of providing these critical solutions to enable more reliable, sustainable, and affordable electricity for all Canadians.”

Enfinite is currently developing five more energy storage facilities within Alberta and are anticipated to be operational by the end of Q4, 2023.

About Enfinite

Enfinite is a North American leader in energy storage and the largest battery operator in Canada. Enfinite creates energy systems that make carbon neutral electricity affordable and reliable and specializes in developing robust energy storage solutions that bring greater dependability, viability, and sustainability to the power grid and its stakeholders. Our energy storage investments support a transition from fossil fuels to renewables to create a more sustainable and reliable clean energy future. Enfinite is committed to upholding the highest Environmental, Social, and Governance standards and Powering Progress towards a net zero future. For more information about Enfinite, visit www.enfinite.com.

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively "forward looking information"). Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," “intend”, "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking information include, among others, statements and timelines with respect to construction and commencement of projects, statements regarding expected operational results and expected capital costs, and other statements regarding Enfinite business initiatives. Because forward-looking information relates to the future, such information is subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Enfinite’s control. Actual results and financial condition may differ materially from those indicated in the forward-looking information, and as such no reliance should be made on any forward-looking information, which reflect Enfinite’s expectations only as of the date of this media release. Enfinite undertakes no obligation to update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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Phone: (403) 710-4005

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