Cenovus to buy 150 MW of solar power in Alberta

Cenovus Energy Inc. has entered into a power purchase agreement (PPA) to buy solar-power-produced electricity and the associated emissions offsets from a partnership between Cold Lake First Nations (CLFN) and Elemental Energy Inc. 

The southern Alberta project will add 150 MW of renewable energy to the province’s electricity grid once completed and is expected to begin producing electricity in 2023. Cenovus has signed a 15-year PPA for the full output of the facility, providing the offtake contract necessary for the construction of the project and ultimately helping Cenovus mitigate its scope 2 emissions. Scope 2 emissions are those represented by purchased or acquired electricity, steam, heat and/or cooling.