The Well, a mixed-use development by RioCan REIT and Allied Properties REIT, will anchor the expansion of Enwave’s deep lake water cooling and hot water distribution networks to Toronto’s downtown west with the installation of a below-grade thermal energy storage facility.
“The development is a reflection of our joint commitment to build resilient, urban communities incorporating intelligent energy solutions and utilizing future-focused technologies,” Carlyle Coutinho, president and COO of Enwave Canada, said in a news release.
In addition to 1.1 million square feet of office space, 500,000 square feet of retail and food service space, and 1,800 residential units, The Well will house two below-grade tanks, each with a capacity of six million litres, which will hold temperature-controlled water. The thermal energy storage facility, which will equip Enwave’s system to serve a total of 20 million square feet of commercial, retail and residential space, will introduce a low-carbon, resilient cooling and heating option to buildings in the community, including The Well, which is currently under construction.
“This agreement enables the extension of Enwave’s system to The Well and allows our tenants as well as commercial, retail and residential sites in the downtown west and surrounding areas to conserve energy and reduce Toronto’s carbon emissions,” Ed Sonshine, CEO of RioCan, said in the news release.
Added Michael Emory, president and CEO of Allied: “As a mix of different occupancy types exerting their energy demands at different times of day, The Well is ideally suited to a system like Enwave.”