Eagle Lake Power Reserve
Overview
Eagle Lake Power Reserve is a 200 MW/ 1,600 MWh battery storage project planned for development approximately 15 km northwest of the City of Dryden, in northeastern Ontario.
Neoen is co-developing Eagle Lake Power Reserve with Eagle Lake First Nation. Neoen and Eagle Lake First Nation will co-own the project in 50/50 equity partnership.
Eagle Lake First Nation (Migisi Sahgaigan) is a historic Ojibwe (Anishinaabe) community located approximately 25 km southwest of Dryden. Serving as a traditional home for generations of families, the Nation is a signatory to Treaty 3 (1873) and a member of the Bimose Tribal Council (BTC) Political Territorial Organization.
Founded in 2008 and owned by Brookfield, Neoen is a global renewable energy company. Its expertise in the fields of solar, wind and storage allows it to actively participate in the energy transition of countries in which Neoen produces green, local and competitive energy.
Neoen has over 9.3 GW of capacity in operation or under construction and aims to deploy an additional 10 GW by 2030.
Eagle Lake Power Reserve has been awarded a 20-year contract by Ontario’s Independent Electricity System Operator (IESO) through its Long-Term 2 Window 1 procurement in June 2026. The project will supply over 584,000 MWh of energy annually to the grid— enough to power more than 385,000 four-person Ontario households for eight hours*.
*Figure based on the Ontario Energy Board’s average per household monthly consumption of 750 kWh.
Neoen is currently progressing through the regulatory and permitting stages required for a Power Purchase Agreement (PPA) with the IESO. Following a successful tender, Eagle Lake Power Reserve will sell generated power to the IESO for the duration of the contract, delivering economic benefits and employment opportunities to the local community.
Location
Eagle Lake Power Reserve is located in the Kenora District of northwestern Ontario, approximately 15 km northwest of the City of Dryden.
Our Commitment to the Community
For local economy
Up to 150 full-time jobs at peak construction, creating opportunities for local and Indigenous businesses
For the climate
Eagle Lake Power Reserve, with a capacity of 200 MW / 1,600 MWh, if fully charged and discharged once per day, could supply approximately 584,000 MWh annually. Each battery discharge (1,600 MWh) can power around 385,000 four-person households for 8 hours.
For your community
The Project will generate ongoing local revenue, contributing to the long-term economic well-being of the community
Project Lifecycle
Neoen is a global leader in clean energy, proud to be contributing to a strong Ontario.
Our commitment is simple:
- Safety first
- Listen well
- Share benefits
- Protect land and water
- Be a good neighbour
We know trust is earned, not given. That is why we focus on safety, reliability, and care for the local environment in everything we do.
Our goal is to work alongside the community, listen to concerns, and ensure our projects bring real benefits for the local community.
We have chosen to invest in Ontario because we see its potential and its commitment to a clean-energy future. Our goal is to contribute responsibly— delivering reliable energy solutions that create real benefits for local communities and support a stronger, more sustainable economy for everyone.
In December 2024, the Independent Electricity System Operator (IESO) launched its second Long-Term Request for Proposals (LT2 RFP) Window 1 procurement, a competitive procurement process to identify qualified proponents to develop, own, and operate new solar photovoltaic (PV) generation and battery storage projects.
Following this competitive process, on April 9, 2026, the IESO announced Eagle Lake Power Reserve (200 MW / 1,600 MWh) as one of 3 awarded battery storage projects, eligible to proceed toward a long-term Power Purchase Agreement (PPA) with the IESO. Since then, Neoen has been working to secure key permits and regulatory approvals required to advance toward a 20-year PPA with the IESO.
Under the agreement structure, the IESO will purchase the electricity generated by Eagle Lake Power Reserve over the contract term, while Neoen is responsible for obtaining all necessary permits and approvals for the development, construction, and operation of the project.
Neoen is a leading independent power producer of exclusively renewable energy, with 9.3 GW of capacity in operation or under construction across four continents, including over 4 GW of solar capacity worldwide as at the end of December 2025.rnrnWe are committed to sharing the benefits of our projects with the communities around them. By prioritizing both people and the environment, we have become a developer of choice and a pioneer in the renewable energy sector, focused on building lasting relationships wherever we operate.rnrnOperating in Canada since 2022 with offices in Toronto and Calgary, Neoen has secured a portfolio capacity of 968 MW, including a 200 MW solar project co-owned by Garden River First Nation; a second 50 MW solar project co-owned by Matachewan First Nation; a 400 MW/4-hour battery storage project in the Traditional Territory of the Saugeen Ojibway Nation; Mino Giizis, a 157 MWp solar project in Saskatchewan, co-owned by Anishinabek Power Alliance; and Fox Coulée, a 93 MWp operating solar farm in Starland County, Alberta.