CALGARY — The Business Renewables Centre Canada congratulates founding members Royal Bank of Canada (RBC), Bullfrog Power (a Spark Power company), and BluEarth Renewables on the announcement of a new solar project to be based in Alberta.
For the Burdett and Yellow Lake solar project, BluEarth signed power purchase agreements with Bullfrog Power and RBC. The project will generate 39 megawatts (MW) of solar power, enough to power 6,400 homes, and supports grid requirements during high demand/peak hours. It is anticipated to contribute $70 million to Alberta’s economy while creating 300 construction jobs in the province.
Members of BRC-Canada have procured over 100 MW of renewable energy power in the past two years alone, mainly in Alberta which has a deregulated electricity market (in which price is set through power company competition for customers).
Quotes
“The fact that RBC, Canada’s largest bank, is joining forces with Bullfrog Power and BluEarth Renewables on this solar energy project in Alberta is a testament to renewable energy as a viable investment and energy source. Partnerships like these, fostered through BRC-Canada, are invaluable as we work to diversify our economy to withstand future disruptions and to stave off the most destructive impacts of climate change.”
— Julia-Maria Becker, director, Business Renewables Centre Canada
“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. Our partnership with Bullfrog Power and BluEarth Renewables would not have come to be without the support of BRC-Canada. This agreement 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.”
— Scott Foster, senior vice president, global head of corporate real estate, RBC
“Bullfrog Power has always aimed to bring major new solar energy generation to the Canadian grid. We’re thrilled to make that a reality with the Burdett and Yellow Lake Solar Project, and we’re proud to show our community how power purchase agreements can help build a renewably powered future. As a founding member of BRC-Canada, we share their goal of accelerating large-scale green energy generation.”
— Sean Drygas, president, Bullfrog Power
“As a founding member of the Business Renewables Centre, we’re proud this partnership came together in Alberta. As we celebrate our 10-year company anniversary this September, BluEarth has long believed in the potential of the Alberta market, and we’re thrilled to begin construction of the Burdett and Yellow Lake Solar Project in August 2020. This is more proof the market works and solar in Alberta is competitive.”
— Grant Arnold, president and CEO, BluEarth Renewables
Quick facts
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BRC-Canada is a non-profit initiative through which corporations and institutions can learn how to buy renewable energy, such as wind or solar power, directly from developers. It has over 40 members, including RBC, Starbucks, Marriott International, IBM, MapleLeaf Foods and Nutrien, among others.
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Last year alone in U.S., corporations (like Amazon, Google, Walmart, T-Mobile) procured over 9 GW of renewable energy through these kinds of deals; BRC-Canada’s target of 2 GW by 2025 is within reach.
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According to the latest National Inventory Report on emissions, Alberta is responsible for 38% of Canada’s greenhouse gas emissions.
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Renewable energy development reduces emissions while creating much-needed jobs. Recent research documents the potential to create 31,300 jobs in renewable electricity in Alberta alone by 2030.
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Research shows that electricity from clean energy portfolios is more affordable than new natural gas plants, including in Alberta where natural gas costs are low, including in peak demand scenarios
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Contact
Sarah MacWhirter (English)
Communications director, Pembina Institute
416-389-7465
Background
Report: Reliable, affordable: The economic case for scaling up clean energy portfolios
Report: Alberta’s Emerging Economy: A blueprint for job creation through 2030
Blog: Corporate excitement about renewable energy builds in Alberta
