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TC Energy (TSX:TRP) announces US$800 million WR Project

Energy, Renewable Energy
TSX:TRP
05 November 2021 09:00 (EDT)

Source: TC Energy Corporation

TC Energy Corporation (TRP) has approved its WR Project, a set of projects anticipated to constitute a capital investment of approximately US$0.8 billion.

The project is designed to increase base system reliability and expand an existing portion of the ANR Pipeline Company (ANR) system to serve markets in the midwestern U.S., while lowering emissions by approximately 30,000 metric tons CO2e (carbon dioxide equivalent) per year – the equivalent to removing more than 6,500 passenger vehicles from the road annually.

By expanding its system, ANR will be able to provide up to an additional 157,000 dekatherms per day of natural gas capacity to electric generation companies in markets that have announced significant coal-fired and vintage gas generation retirements.

The project’s facilities include the installation of electric motor compressors with fuel switching capabilities for additional reliability to replace existing natural gas-powered compressor units along ANR’s system.

François Poirier, TC Energy’s President and Chief Executive Officer commented on the project.

“The electrification of horsepower for the project is expected to result in a 43 percent reduction in carbon dioxide equivalent emissions at the source with full utilization of the electric drive units — consistent with TC Energy’s approach to optimize our existing footprint with more sustainable infrastructure while improving reliability and organically growing our business along our existing corridor.”

The conversion of natural gas to electric motor compressors is expected to continue, minimizing emissions from natural gas transmission and storage facilities.

The WR Project is expected to be brought in service in the fourth quarter of 2025.

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico.

TC Energy Corporation (TRP) opened trading at C$66.66 per share.

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