Scotiabank and Evolugen, the Canadian operating business of Brookfield Renewable, have signed a 15-year renewable energy power purchase agreement (PPA) for a solar photovoltaic project that will be constructed in Alberta.
The 40 MW Spring Coulee Solar project will be developed near the town of Cardston. The construction works are expected to begin in Summer 2022 with commercial operation targetted for 2023. Once operational, Scotiabank will become the sole proprietor, purchasing 100% of the emission-free renewable electricity generated by the facility to help reduce its greenhouse gas (GHG) emissions.
With the power that will be generated by more than 70,000 bi-facial photovoltaic solar panels, the project will save approximately 30,000 metric tonnes of GHG emissions annually. The facility will help to reduce 30,000 metric tonnes of GHG emissions per year.
