PowerBank announces commercial operation of 4.99 MW BESS in Ontario

PowerBank Corporation has announced that the 4.99 MW BESS project in Cramahe, Ontario, also known as BESS SFF 06, has reached commercial operation and commenced revenue producing operations.

BESS SFF 06 has been constructed and is operating at the site of an existing ground-mount solar project. The existing solar project is a separate project which was awarded a contract in 2015 by the Independent Electricity System Operator under the Feed In Tariff program, according to a media release.

In July 2023, the project was awarded a contract by the IESO under the Expedited Long-Term RFP. The contract, which has a term of 22 years, includes a fixed contract capacity payment of USD 1,221/MW per business day, significantly above the weighted average price of USD 876/MW for all storage category projects under the E-LT1 RFP. Now that the project is operational, it will have 4.74 MW of daily contract capacity available (at a capacity payment to ProjectCo of USD 1,221/MW per business day) for 251 business days in a year.

“Reaching commercial operation on BESS SFF 06 is a deeply meaningful milestone for our team,” said Dr. Richard Lu, CEO of PowerBank Corporation. “Battery energy storage is a critical pillar of a resilient, renewable grid — and this project proves that the technology, the contracts, and the partnerships are in place to deliver. We look forward to bringing more of our pipeline online as we continue building the clean energy infrastructure North America needs.”

“BESS SFF 06 represents the engineering and operational excellence our team brings to every project,” said Andrew van Doorn, P. Eng, President & Chief Operating Officer of PowerBank Corporation. “With over 30 years of experience delivering renewable energy infrastructure, I know firsthand that moments like this — a fully commissioned BESS project helping power the Ontario grid — are the result of years of disciplined execution.”