HOUSTON, April – 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 timing
The 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.
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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.