Item - 2017.EX26.22

The Executive Committee:

1.  Directed the Chief Corporate Officer or designate to negotiate with Enwave the necessary agreements, together with any applicable conditions indicated in the Request for pre-Qualification and Request for Proposal, in a form satisfactory to the City Solicitor and report back to Council for approval of the proposed agreement and terms in the fourth quarter of 2017.

On October 26, 2016 Executive Committee directed the Chief Corporate Officer to identify the appropriate market partner using a three-stage approach and report on the outcome and next step for the development of low-carbon thermal energy networks.

The outcome of the three-stage market sounding exercise resulted in the selection of Enwave Energy Corporation (Enwave) as the strategically aligned entity for the City of Toronto to engage with on a joint initiative to develop low-carbon thermal energy networks in Toronto.

Enwave has shown to have:

-  Demonstrated customer relationships.

-  Capability to develop, design, and construct new low-carbon thermal energy networks.

-  Proven ability to make the necessary financial investments.

The next step will be for the City and Enwave to negotiate a term sheet to define the arrangement and associated value proposition and seek approval from City Council, as well as, the Enwave board.