Enwave
 |
|
| Private | |
| Industry | District energy |
| Predecessor | Toronto District Heating Corporation |
| Headquarters | Toronto, Ontario, Canada |
|
Area served
|
Downtown Toronto |
| Owner | Brookfield Asset Management |
| Website | enwave.com |
Enwave Energy Corporation, a private corporation owned by Brookfield Asset Management and formerly jointly owned by the City of Toronto municipal government and the Ontario Municipal Employees Retirement System, is one of the largest district energy systems in North America. Enwave was formed after the restructuring of the Toronto District Heating Corporation.
The company was originally established as the Toronto Hospitals Steam Corporation in 1969 to provide heating services for the Toronto General Hospital, the Hospital for Sick Children, New Mount Sinai Hospital and Women's College Hospital, and later provided these services to other medical institutions, the University of Toronto and the provincial government. It was renamed as the Toronto District Heating Corporation in 1980, at which time it acquired the steam utility that was also being operated by Toronto Hydro.
As a consequence of the Common Sense Revolution brought about under Premier Mike Harris, the corporation was privatized in 1998, with shares going to the Province, the City of Toronto, the University of Toronto and the four founding hospitals. The corporation was renamed as Enwave in 1999. Over time, only two shareholders remained: the City with 43%, and the Ontario Municipal Employees Retirement System with 57%.
On October 2, 2012, Toronto City Council voted to sell its 43% stake in Enwave. This followed an announcement that real estate company Brookfield Asset Management would acquire the entire company through a partnership.
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Wikipedia