Revision to Proposed CIB Financing Approach and Expedited RFP
February 2, 2023
The Canada Infrastructure Bank (CIB) has indicated that it will be revising its proposed financing package for electricity storage facilities in the Expedited Long-Term RFP (E-LT1). The CIB will be offering a standard financing package to stand-alone energy storage proponents that fall above a given price threshold, with the aim of reducing costs for Ontario electricity consumers. A letter from the Minister of Energy has specified that the IESO should work to enable the CIB’s revised financing package, and the amendments to the E-LT1 are reflected in an addendum (Addendum no. 2) posted to the Long-Term RFP web page.
A joint IESO/CIB webinar for qualified applicants and eligible expansion counterparties was held Friday, January 27 to outline the revised package and the resulting amendments to the E-LT1 evaluation process. The presentation and a recording of the session can be found on the Long-Term RFP engagement web page.