The project is expected to provide enough electricity to more than 6,400 homes, and the panel facilities will cover 120 hectares, the size of 170 football fields. The solar facility will be built in Forty Mile County, a renewable energy hot spot also selected by Suncor Energy Inc. for its $300 million 200 MW wind project (approved last year and put on hold during the COVID-19 pandemic). «Electricity purchase contracts are the most efficient way to develop renewable energy in Canada,» said Sean Drygas, President of Bullfrog Power. «As we continue to advise our clients when signing their own PPAs, nothing shows our faith in their worth more than signing our own. We are proud to support the BluEarths Burdett and Yellow Lake Solar Project, and we are pleased to be on this path alongside RBC, a long-time green energy champion. The agreement will provide RBC with renewable clean energy from a new 39 MW solar project – one of the largest power purchase contracts in Canadian history Royal Bank of Canada will purchase solar power from BluEarth Renewables Inc. under a renewable energy contract, one of the first of its kind for a Canadian financial company. «We are proud to be the first Canadian bank to sign a long-term renewable energy purchase agreement that demonstrates our commitment to clean and sustainable energy,» 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 customers and communities in the areas in which we live and work with the low-carbon transition, while accelerating clean economic growth. We are pleased to lead the way in this area and continue to support green innovation.
The Royal Bank of Canada says it is the first Canadian bank to sign a long-term renewable energy sales contract, an agreement that will support the development of a 39-megawatt solar project in southern Alberta in southern Alberta. Electricity purchased from solar farms will contribute to the Royal Bank`s goals of reducing greenhouse gas emissions from its plants by 70% by 2025 and increasing the supply of renewable and non-emitting electricity to 100% by 2025. He says the agreement shows that renewable energy can be profitable in a deregulated electricity market like Alberta, adding that the province has some of the best solar and wind resources in Canada. «We are proud to work with RBC and Bullfrog, organizations working to build a sustainable future and action against climate change,» said Grant Arnold, President and CEO of BluEarth Renewables. «BluEarth has executed an appointment sheet for this performance in 2019 and, despite COVID-19 and other market disruptions, prices, conditions and timing have been maintained.