Cenovus, Elemental Energy ink 150-MW solar PPA in Alberta


July 23 (Renewables Now) - Canadian energy group Cenovus Energy Inc (TSE:CVE) has signed an off-take deal to get electricity from a roughly 150-MW solar project proposed in Alberta by compatriot Elemental Energy Inc.

The power purchase agreement (PPA) is tied to the entire output of the photovoltaic (PV) park and the associated emissions offsets, Cenovus said on Thursday. The contracted project is being implemented by a partnership between Vancouver-based Elemental Energy and Cold Lake First Nations (CLFN).

The deal aligns with Cenovus’ environmental, social & governance (ESG) programme and its goal to mitigate its scope 2 emissions and thus become net-zero by 2050, the oil and gas company said.

The southern Alberta solar park is expected to become operational in 2023.

Apart from solar, Elemental Energy is involved in the development of wind and hydropower projects across North America. In Alberta, it has two operational solar power plants.