Enwave Energy Corporation

Enwave Green Heat™ Plant Commissioned at Pearl Street Energy Centre

TORONTO, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Enwave Energy Corporation (Enwave) commissioned its new Enwave Green Heat™ Plant during a ceremony at the Pearl Street Energy Centre in Toronto today. This announcement is a monumental step in further enabling Enwave to provide low-carbon heating through its Enwave Green Heat™ program to Toronto’s world-renowned district energy system. The Plant has been designed to reduce its electricity demand during peak times while continuing to provide reliable, low-carbon heating and cooling – demonstrating the ability of district energy to enable the decarbonization and electrification of Toronto’s buildings while making more efficient use of Ontario’s electricity infrastructure.

Enwave began development of the Enwave Green Heat™ Plant as an addition to the Pearl Street Energy Centre in 2018, initially breaking ground in May 2023. The 60-year-old Pearl Street Energy Centre has been updated with a three-story addition, including entirely new building façade and new community artwork. Once fully operational, the new plant will have capacity of 3,600 tons of cooling and 62,000 MBH of heating. The electrified heating generated from the Enwave Green Heat™ Plant will be capable of displacing carbon emissions of up to 11,600 tCO2e, as compared to traditional steam to hot water energy generation – which is the equivalent carbon reduction associated with converting 10 million square feet of existing office space from traditional boilers to low-carbon heating.

In an effort to provide decarbonization at scale, the plant will leverage waste heat from Enwave’s Deep Lake Water Cooling (DLWC) system customers – including data centres, hospitals, scientific research facilities and lab spaces – which is then upgraded through the electrified heat pump into hot water. This allows the plant to provide heat to other district-connected customers, while potentially reducing new electricity peak generation, distribution and transmission infrastructure that would otherwise be required, if heating was provided by stand-alone electrified solutions. Enwave’s award-winning DLWC system and its Enwave Green Heat™ Plant directly support Ontario’s first Integrated Energy Plan, which aims to ensure that the Province of Ontario has the energy it needs to power homes and industries, today and in the decades to come.

The new plant will have a total electricity demand of approximately 6MW when it is serving its full thermal load and has been designed with the potential to reduce its peak electricity demand by up to 6MW – supporting the reliability of Ontario’s electricity system while continuing to meet the heating and cooling needs of Enwave’s thermal energy customers.

“The commissioning of the Enwave Green Heat™ Plant at our Pearl Street Energy Centre is a great example of how Enwave can contribute to the electrification of the economy more efficiently and cost effectively for all stakeholders in Toronto,” says Carlyle Coutinho, CEO of Enwave Energy Corporation. “Expanding the offerings of our Enwave Green Heat™ program through this new plant allows customers commercial access to sustainable solutions at scale, serving even more residents, institutions and businesses in Ontario. In collaboration with the City of Toronto and the Province of Ontario, this approach to decarbonization helps enable our customers to meet the highest levels of Toronto Green Standards, while allowing us to work toward building a cleaner, brighter future. We are proud to be a partner of choice in the energy transformation to net-zero carbon.”

Launched in 2023, Enwave’s Green Heat™ program includes the milestone expansion and renewal of Enwave’s facilities to enable Enwave to provide low-carbon heat to the world-renowned district energy system servicing Toronto’s downtown core. The new Enwave Green Heat™ Plant at the Pearl Street Energy Centre is the most recent addition by Enwave to its Enwave Green Heat™ program.

Left-right: Dianne Saxe (University-Rosedale Councillor), Chi Nguyen (Member of Parliament, Spadina-Fort York), Hon. Sam Oosterhoff (Associate Minister, Energy-Intensive Industries), Ehren Cory (CEO, Canada Infrastructure Bank), Carlyle Coutinho (CEO, Enwave Energy Corporation), and Ausma Malik (Deputy Toronto Mayor). Photographer Credit: Natasha Serio

“The commissioning of the new Enwave Green Heat™ Plant marks another step forward in providing low-carbon heating to more people in Toronto, leveraging the existing district energy system,” says Toronto Mayor Olivia Chow. “The city is grateful for Enwave’s continued partnership and ambitious approach to providing electrification solutions that further support innovation and sustainability and the City’s Transform TO goal of Net Zero by 2040.”

“The Enwave Green Heat™ Plant is another clear example of how innovation from Ontario’s energy industries is making our province a world leader in electrification and reliable energy generation,” says Sam Oosterhoff, Ontario’s Associate Minister of Energy-Intensive Industries. “As Ontario’s energy demand continues to increase, particularly in urban hubs like downtown Toronto, improving the efficiency of existing infrastructure – as Enwave is demonstrating – will be vital to ensuring that our residents and businesses have access to clean and affordable energy for generations to come.” 

"Enwave’s latest investment in Toronto’s district energy system is a real turning point for the city and a sign that district energy is picking up momentum worldwide,” says Rob Thornton, CEO of the International District Energy Association. "Enwave continues to help building owners solve problems on a city scale, enabling their customers to save energy and water, reduce emissions, avoid capital risks, and prepare for the future. As the city expands, IDEA is proud to support the efforts of members like Enwave across cities like Toronto in preparing its residents and businesses for the next fifty years of district energy and beyond.” 

The facility’s expansion was supported financially by a grant provided by Canada’s Low Carbon Economy Fund, Champions Stream, and by the Canada Infrastructure Bank through an aggregate facility of $600M which has supported innovative energy projects across Enwave’s portfolio, including Lakeview Village in Mississauga, Ontario (wastewater heat recovery technology), Etobicoke Civic Centre in Toronto (geoexchange technology) and this project at the Pearl Street Energy Centre (Enwave Green Heat™ Plant).

“In 2021, the CIB partnered with Enwave on a portfolio of energy projects throughout the Greater Toronto Area through a $600 million loan,” says Ehren Cory, CEO, Canada Infrastructure Bank. “Our investment is paying dividends—helping to make urban communities greener and more sustainable, while also supporting the delivery of reliable, cost-effective energy solutions that benefit residents and businesses alike.”

Enwave has worked closely alongside partners essential to the success of the new plant’s commissioning, including BTY Group, Clark Construction Management Inc., H.H. Angus and Associates Ltd., Hanson + Jung Architects Inc., Sprint Mechanical Inc., Stantec Consulting Services Inc. and TriVolt.

About Enwave

Enwave is one of the largest commercial owners and operators of community-based district energy systems in North America. It focuses on developing reliable, commercial and sustainable energy solutions at scale, tailored to the unique needs of municipalities, commercial developments, universities, hospitals, data centres and residential communities. Enwave provides thermal energy services to over 100 million square feet of mixed-use space across Canada using a variety of technologies including Deep Lake Water Cooling, thermal storage, geoexchange, biomass and energy-from-waste. Enwave was acquired by Ontario Teachers’ Pension Plan & IFM Investors in 2021.

https://www.enwave.com

For more information, interview requests or high-res images please contact:

Katie Good, GoodPR
katie@goodpr.ca
(416) 540-2195

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f622d7c-2f0e-404e-ad2b-507e2c53c8cf