CALGARY, ALBERTA / ACCESSWIRE / July 28, 2020 / BluEarth Renewables ('BluEarth') and Bullfrog Power, a Spark Power company ('Bullfrog') are pleased to announce the signing of a power purchase agreement (PPA) to directly support the construction of BluEarth's new utility-scale solar project. BluEarth will begin construction of its 39 MWAC Burdett and Yellow Lake Solar Project ('the Project') in August 2020. The Project is located in Alberta, southwest of Medicine Hat, in the County of Forty Mile. Commercial operations are expected to commence in April 2021.
BluEarth has signed power purchase agreements with Bullfrog Power, Canada's leading provider of green energy and PPA solutions, and the Royal Bank of Canada ('RBC'). Bullfrog and RBC will purchase the majority of the Project's environmental attributes. The advancement of this Project demonstrates that renewable energy can be cost-competitive in an open market and that PPAs can facilitate green investment in the Alberta economy.
A rendering of the upcoming Yellow Lake solar farm
- Injects over $70 million of capital investment into the Alberta economy
- Creates over 300 jobs during construction
- Contributes significant and stable long-term property tax revenue to the local economy
- Satisfies the local electricity load requirement, avoiding potentially capital intensive upgrades to the transmission infrastructure
- Produces enough renewable energy to power approximately 6,400 homes annually
- Supports the grid requirements during high demand/peak hours
'We are very pleased to be investing in Alberta and positioned to break ground on the Burdett and Yellow Lake Solar Project in the coming months,' commented Grant Arnold, President and Chief Executive Officer of BluEarth Renewables. 'This Project became a reality as the COVID-19 pandemic unfolded, and credit is due to the initiative, perseverance and support of RBC, Bullfrog Power and our local stakeholders.'
Alberta has some of the best solar and wind resource in Canada and cost trendlines for these technologies continue to decline. Alberta's deregulated electricity market provides corporations the ability to select and procure energy products that meet their needs directly from generators, making Alberta an excellent jurisdiction for renewable energy investment and growth.
'Power purchase agreements like the ones Bullfrog Power and RBC have signed with BluEarth are the most effective way to expand renewable energy in Canada,' said Sean Drygas, President of Bullfrog Power. 'We're excited to secure a predictable, economic supply of renewable energy attributes from the Burdett and Yellow Lake Solar Project. As we continue to advise our clients on signing their own PPAs, nothing shows our belief in their value more than signing our own.'
'BluEarth is a great home-grown Alberta success story, and I am thrilled they are once again making a major investment here in their own backyard and in my riding,' commented Honourable Grant Hunter, MLA for Taber-Warner.
'We're proud to be the first Canadian bank to sign a long-term renewable energy Power Purchase Agreement, demonstrating our commitment to clean, sustainable power,' said Scott Foster, SVP, Global Head of Corporate Real Estate at RBC. 'This agreement, and our partnership with Bullfrog Power and BluEarth Renewables, will help support our clients and communities in the areas where we live and work with the low-carbon transition, while accelerating clean economic growth. We are excited to be taking a leadership position in this sector and continue our support of environment-focused innovation.'
For more information about BluEarth's Burdett and Yellow Lake Solar Project, please visit our website.
To learn more about Bullfrog Power's PPA solutions, please click here.
About BluEarth Renewables
BluEarth Renewables brings together extraordinary people with the power to change the future™ by delivering renewable energy to the power grid every day. We are a leading, independent, power producer that acquires, develops, builds, owns and operates wind, hydro and solar facilities across North America. Our portfolio includes 333 MW net (405 MW gross) of nameplate capacity in operation and under construction and over 2,000 MW under development. For more information, visit bluearthrenewables.com or follow us on Twitter, LinkedIn and Facebook.
For further information:
About Bullfrog Power, a Spark Power company
Bullfrog Power, part of Spark Power Group Inc (TSX:SPG), is Canada's leading green energy provider. Bullfrog offers renewable energy solutions that enable individuals and businesses to reduce their environmental impact, support the development of green energy projects in Canada, and help create a cleaner, healthier world. As a Certified B Corporation, Bullfrog Power meets higher standards of social and environmental performance, transparency, and accountability. Thousands of individuals and businesses in Canada are doing their part to addressclimate change and air pollution by choosing green energy with Bullfrog Power. Sign up easily, quickly and affordably at bullfrogpower.com. Join the bullfrogpowered community online on Facebook, Instagram, Twitter, and LinkedIn.
For further information:
Suha Jethalal, Head of Marketing
(416) 360-3464, ext 0240
SOURCE: Spark Power Group Inc.
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