Canadian district heating and cooling services provider Enwave Energy Corp., a unit of pension fund company Ontario Municipal Employees Retirement System, has revealed a $100 million extension of its Deep Lake Water Cooling (DLWC) system.
In connection with the transaction, Enwave Energy Corp. is getting up to $10 million in federal financing.
The DLWC project will decrease greenhouse gas emissions, cut down strain on the electricity and water systems, support and attract new growth and make the city more volatile.
The commitment will help Enwave serve sustainable cooling to a further two million square meters of floor space, comparable to 40 to 50 buildings.