Major investment paves way for huge solar project in Alberta
Posted Feb 4, 2020 5:01 pm.
Last Updated Feb 4, 2020 5:02 pm.
CALGARY (660 NEWS) – A significant investment is being made for what could end up as Canada’s largest solar farm, located in southern Alberta.
Travers Solar will be located in Vulcan County after a partnership agreement worth $500 million was reached between Calgary-based Greengate Power Corporation and Copenhagen Infrastructure Partners from Denmark.
“Not only does Alberta have phenomenal oil and gas resources, it also has phenomenal natural resources including wind and solar. This area of the province has a very strong solar resource. The project is also located right next to a large transmission line,” said Greengate CFO Jordan Balaban.
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When complete, Travers Solar will generate about 400 MW of electricity, enough to power about 100,000 homes in Alberta.
It’s also pegged to be a boon for the economy, by creating around 500 jobs during construction and sustaining about a dozen jobs once complete.
In addition, it will generate a large amount of property tax revenue through its expected thirty-year plus life cycle.
Balaban added that this project shows boosted investor confidence in the province, and credited the Alberta Government’s Technology and Innovation Emissions Reduction (TIER) plan as being a motivator to invest in the solar farm.
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He said this also shows the continued evolution of power generation in Alberta.
“There’s a really interesting opportunity over the next decade,” said Balaban.
“We’re going to be shutting down all of our coal-fired facilities by the end of this decade, so there’s an opportunity to fill that void with renewable energy power plants, in addition to other types of power plants like gas.”
Balaban also credited Vulcan County for being a solid partner through the process, and they already have history together after developing a 300 MW wind project there back in 2013.
