Greengate Power Receives Key Provincial Approval for Canada’s Largest Solar Energy Project – One of the Largest in the World
With an estimated total investment of approximately $500 million, Travers Solar is expected to be Canadas largest operating solar energy project, and one of the largest in the world, with a total generating capacity of 400 MWac.
CALGARY, Alberta, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Greengate Power Corporation (Greengate) has received approval from the Alberta Utilities Commission (AUC) to construct and operate its Travers Solar project pursuant to the Alberta Hydro and Electric Act. Greengate expects to begin construction of the project in 2020, with full commercial operations targeted for 2021.
With an estimated total investment of approximately $500 million, Travers Solar is expected to be Canada’s largest operating solar energy project, and one of the largest in the world, with a total generating capacity of 400 MWac. The project is located in Vulcan County, Alberta and is anticipated to operate for more than 35 years.
The AUC conducted an extensive review of the project and found that its approval is in the public interest considering its social, economic and environmental effects.
“We are very pleased to have received approval for what we expect will be Canada’s largest solar energy project and one of the largest in the world,” said Dan Balaban, President and CEO of Greengate. “This continues our successful track record, having already developed some of the largest renewable energy projects in the country. We anticipate that Travers Solar will bring significant investment, employment and clean renewable energy to Alberta while strengthening the province’s position as a global energy and environmental leader.”
Travers Solar is expected to provide substantial economic and environmental benefits and supply a clean and emissions-free source of electricity for more than 100,000 homes. The project is also anticipated to be one of Alberta’s largest producers of environmental attributes for compliance by large emitters under Alberta’s Technology Innovation and Emissions Reduction (TIER) program.
For more information about Travers Solar, please visit www.greengatepower.com.
About Greengate Power Corporation
Greengate is an industry leading, privately-held renewable energy company based in Calgary, Alberta, Canada. Since 2007, Greengate has successfully developed close to 600 MW of operating or near operating wind energy projects in Alberta and Ontario, including the 300 MW Blackspring Ridge Wind Project, which is currently the largest operating wind energy project in Canada. These projects represent well over $1 billion of investment and provide a clean source of power to more than 250,000 homes. Greengate is currently pursuing the development of close to 1,000 MW of new solar and wind energy projects as it continues to grow as an industry leading producer of clean renewable energy. For more information, please visit: www.greengatepower.com.
For media inquiries please contact:
Alex Handley
Brookline Public Relations for Greengate Power
P: 403-813-3410
E: [email protected]
Forward Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws. In particular, forward looking information in this news release includes, but is not limited to: statements with respect to Travers Solar and Greengate’s other renewable energy projects. The forward-looking information is based on certain key expectations and assumptions made by Greengate, including expectations and assumptions concerning the development of its renewable energy projects; the state of the economy and the renewable energy business; business prospects and opportunities; the current regulatory and political environment; and existing financial commitments. Although Greengate believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Greengate can give no assurance that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
