The Ontario Lottery and Gaming Corporation (OLG) finalized a deal this week with Enwave Windsor Holdings (Enwave) to provide long-term energy reliability for the Caesars Windsor casino. The agreement outlines Enwave purchasing the thermal and electrical assets of OLG’s Windsor Energy Centre (WEC) and the company will lease the space from OLG until at least 2040.
Additionally, OLG and Enwave have entered a service agreement for the electrical company to supply water for the heating and cooling of the west block of the casino complex as well as backup electricity for this section of the property.
As part of the deal, Enwave will invest in higher efficiency equipment to improve performance and reduce the WEC’s carbon footprint. The move allows OLG to exit the energy production industry and continue working in the Canadian gaming sector, where the group offers live casino operations and regulates online gaming.
“OLG is pleased to have reached this agreement with Enwave,” OLG’s Chief Financial and Risk Officer Pinder Basi said. “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.”
Deal Expands on Energy Partnership
OLG officials say the sale aligns with the group’s response to a 2021 provincial audit report committing to exploring opportunities for the sale of the WEC assets. The transaction generates greater financial impact for OLG, the group notes, than keeping the WEC assets. OLG will receive an upfront payment, ongoing annual payments, and avoid future maintenance costs.
Enwave is one of the largest commercial operators of community-based thermal energy systems in North America. The company develops reliable, scalable, and sustainable energy solutions tailored to the unique needs of municipalities, commercial developments, universities, hospitals, and residential communities.
Management has extensive experience in designing, operating, and managing a variety of low-carbon 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. Company officials were pleased with the OLG agreement.
“We are excited to expand our partnership and evolve our long-standing relationship with OLG in the city of Windsor,” Enwave CEO Carlyle Coutinho said. “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.”
