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Greater Napanee council has approved an agreement with Atura Power that could provide the town with more than $12 million in community benefits over the life of the company’s Napanee battery storage project.
The agreement covers the second phase of Atura Power’s Battery Energy Storage System, which received a 20-year contract from the Independent Electricity System Operator in June.
The 300-megawatt project is expected to begin commercial operation in 2029 or 2030. Under the agreement, Atura will provide the town with $2,000 per megawatt of contracted capacity each year, or $600,000 annually once the facility is operating.
The town will also receive interim payments of $100,000 annually starting immediately.
Council will decide how the money is spent. The funding is separate from existing agreements and other approved Atura commitments.
Combined funding could bring Greater Napanee more than $1.1 million annually in community benefits by the end of the decade.
