OLG SELLS ENERGY ASSETS IN WINDSOR TO ENWAVE

Toronto, ON – Ontario Lottery and Gaming Corporation (OLG) today announced it has finalized an agreement with Enwave Windsor Holdings Limited Partnership (Enwave) to provide long-term energy reliability for the Windsor casino.

Enwave has purchased the thermal and electrical assets of OLG’s Windsor Energy Centre (WEC) and will lease the space occupied by the WEC from OLG until at least 2040. In addition, OLG and Enwave have entered into a service agreement that will see Enwave supply hot water and chilled water for the heating and cooling of the West Block of the casino complex, as well as backup electricity to the West Block. As part of the deal, Enwave will be investing in new higher efficiency equipment to improve system performance and reduce the WEC’s carbon footprint.

“OLG is pleased to have reached this agreement with Enwave,” said Pinder Basi, OLG’s Chief Financial and Risk Officer. “The deal provides for the long-term energy needs of the Windsor casino, while allowing OLG to focus on our gaming mandate and our purpose of delivering great entertainment experiences for customers — in Windsor and across Ontario.”

“We are excited to expand our partnership and evolve our long-standing relationship with OLG in the City of Windsor” said Carlyle Coutinho, Chief Executive Officer for Enwave Energy Corporation. “Enwave acquired the North Block plant at the Windsor casino in 2015 and invested further in Windsor’s district assets in 2021. Today marks another new chapter in our relationship and we are proud to showcase our commitment to delivering sustainable and commercial solutions to the City of Windsor. With this acquisition we are able to continue to deliver efficient and reliable energy within the City, supporting the long-term energy needs of the Windsor casino.”

The sale aligns with OLG’s response to a provincial audit report released in 2021, committing to actively explore opportunities for the sale of the WEC assets. The transaction generates greater value for money for OLG than keeping the WEC assets — with an upfront payment, ongoing annual payments, and avoiding future maintenance costs.

About Enwave

Enwave is one of the largest commercial operators of community-based thermal energy systems in North America. We develop reliable, scalable, and sustainable energy solutions tailored to the unique needs of municipalities, commercial developments, universities, hospitals, and residential communities. Our management team has extensive experience in designing, operating, and/or managing a variety of low-carbon, efficient thermal and electrical technologies including lake water cooling, geoexchange, energy from waste, clean biomass, energy from sewage, thermal ice batteries, ambient loops, wind, solar, and combined heat and power.

About OLG

OLG is a crown agency that contributes to a better Ontario by delivering great entertainment experiences for our customers. Acting in a socially responsible way, OLG conducts and manages land-based gaming facilities; the sale of province-wide lottery games; Internet gaming; and the delivery of bingo and other electronic gaming products at Charitable Gaming Centres. OLG is also helping support the horse racing industry in Ontario. Since 1975, OLG has generated approximately $59 billion to the people and Province of Ontario to support key government priorities like health care; the treatment and prevention of problem gambling; and support for amateur athletes. Each year profits from OLG's operations also support host communities, Ontario First Nations, lottery retailers and local charities across the province.

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