TC Energy Corporation has reached agreement with the Department of National Defence, that subject to conditions and regulatory approval, allows for the development of a transformative 1,000-megawatt clean energy storage project on federal lands. The Ontario Pumped Storage Project, proposed to be constructed on Department of National Defence’s 4th Canadian Division Training Centre property by TC Energy, would be Ontario’s energy storage project, optimizing the province’s electricity system and is estimated to deliver more than $250 million in annual savings to electricity consumers. A multi-billion dollar private sector investment, over the next eight years, the project would result in approximately 1,000 jobs during development and construction. Once operating, it would provide emission-free electricity for the province, while reducing greenhouse gas emissions by an expected 490,000 tonnes – the equivalent of removing 150,000 cars from Ontario roads.