Media Advisory - TC Energy announces issuance of renewable energy Request for Information

Rhea-AI Summary

HOUSTON, April 12, 2021 (GLOBE NEWSWIRE) -- TC Energy Corporation (NYSE: TRP) is issuing a Request for Information (RFI) to explore potential contract and investment opportunities in wind energy projects. The initiative aims to generate 2,500,000 megawatt hours annually, equating to 620 megawatts of zero-carbon energy for its U.S. pipeline assets. The RFI is non-binding and runs until May 10, 2021. The company seeks to leverage its expertise and existing assets of $100 billion to advance renewable energy goals and reduce emissions across North America.

Positive

• RFI aims to generate 2,500,000 megawatt hours annually, enhancing zero-carbon energy.
• TC Energy has substantial existing assets of $100 billion, backing its renewable expansion efforts.
• The initiative advances TC Energy's plans for growth and diversification in the energy sector.

Negative

• None.

HOUSTON, April 12, 2021 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSE, NYSE: TRP) (TC Energy or the Company) announced today that it is seeking, through the issuance of a Request for Information (RFI), to identify potential contract and/or investment opportunities in wind energy projects that could generate up to 2,500,000 megawatt hours per year or 620 megawatts of zero-carbon energy to meet the electricity needs for a portion of its pipeline assets along its U.S. corridor.

The RFI, issued by Marathon Capital (Marathon) on behalf of the Company, is non-binding and does not commit TC Energy to any further action if the indicative terms received pursuant to the RFI are not satisfactory.

Selection process and timing
The RFI is open from April 12 to May 10, 2021 and will be issued to approximately 100 renewable development companies to identify suitable wind energy projects across the Southwest Power Pool (SPP), Midwest Independent System Operator (MISO) and Electric Reliability Council of Texas (ERCOT) power regions. RFI responses received will be reviewed and a shortlist of parties will be invited to move to a request for proposal (RFP) process during which TC Energy will conduct detailed due diligence of the projects. All participants must direct their inquiries through Marathon.

Quote
Corey Hessen, TC Energy Senior Vice-President and President, Power and Storage, said the RFI is an important step in advancing the Company’s plans to leverage its Power business as a platform for future growth and diversification, building on 20 years of expertise and total assets of $100 billion. TC Energy currently owns or has interests in seven power generation facilities in four Canadian geographies with combined capacity of approximately 4,200 megawatts — enough to power more than four million homes.

“We are exploring opportunities to electrify and use renewable energy to power certain TC Energy proprietary energy loads,” said Hessen, adding that the Company is also actively evaluating options to invest directly in renewable projects where possible. “Ultimately, our goal is to leverage our existing asset base to add more renewable generation into our portfolio and the broader market, resulting in a net reduction of emissions across our North American footprint,” Hessen added.

About TC Energy
We are a vital part of everyday life — delivering the energy millions of people rely on to power their lives in a sustainable way. Thanks to a safe, reliable network of natural gas and crude oil pipelines, along with power generation and storage facilities, wherever life happens — we’re there. Guided by our core values of safety, responsibility, collaboration and integrity, our 7,500 people make a positive difference in the communities where we operate across Canada, the United States and Mexico.

TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP.

Media Inquiries:
Jennifer Link
403-920-7859 or 800-608-7859

Investor & Analyst Inquiries:
David Moneta / Hunter Mau
403-920-7911 or 800-361-6522

Marathon Capital
Joan Hutchinson
jhutchinson@marathoncapital.com
503-953-3324

PDF available: http://ml.globenewswire.com/Resource/Download/07f61431-c4f0-49d5-97bc-e442484dd8ea

FAQ

What is TC Energy's recent RFI about wind energy projects?

TC Energy's RFI seeks contract and investment opportunities in wind energy to generate up to 2,500,000 megawatt hours annually.

What is the purpose of TC Energy's RFI?

The RFI aims to identify suitable wind energy projects to power part of its U.S. pipeline assets.

When is TC Energy's RFI open for submissions?

The RFI is open from April 12 to May 10, 2021.

How much zero-carbon energy is TC Energy aiming to generate?

TC Energy aims to generate 620 megawatts of zero-carbon energy through wind projects.

What are TC Energy's goals with this RFI?

The company aims to leverage its assets to reduce emissions and advance its renewable energy portfolio.