CIB invests $170 million in Oneida Energy Storage

BUSINESS: $500 million Oneida Energy Storage Partners : Six Nations Grand River Development Corporation … NRStor The Oneida Energy Storage (OES) is one step closer to getting the go ahead to build. The Canada Infrastructure Bank (CIB) announced a contribution of $170 million toward the green energy project. The project is a 50/50 venture between the Six Nations of the Grand River Economic Development Corporation (SNGREDC) and NRStor Inc. with the hopes to provide one of the largest energy storage facilities in North America. The SNGREDC entered into a memorandum of understanding with the CIB in March 2021, but the financial contribution had not been set. The funding amount announcement was made on May 19 during a Zoom announcement by the Canada Council for Public and Private Partnerships with the…

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