UPDATE - BluEarth to sell power to RBC from 39-MW solar park

BluEarth Renewables confirmed today it has sealed an off-take contract with Bullfrog Power and Royal Bank of Canada (TSE:RY-G), or RBC, for the output of a 39-MW solar project in the Canadian province of Alberta.

As reported earlier today, RBC and the unit of Spark Power Group Inc (TSE:SPG) will each buy 31,500 MWh of solar power annually. BluEarth adds that the two customers will purchase the majority of the project’s environmental attributes.

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More specifically, the electricity will be sourced from the 39-MW Burdett and Yellow Lake solar plant southwest of Medicine Hat in the County of Forty Mile, which is to enter the construction phase next month. The developer expects this facility to begin operations in April 2021.

According to the announcement, the project will inject more than CAD 70 million (USD 52.3m/EUR 44.6m) into the local economy and create over 300 jobs during construction.

“We’re proud to be the first Canadian bank to sign a long-term renewable energy Power Purchase Agreement, demonstrating our commitment to clean, sustainable power,” said Scott Foster, SVP, Global Head of Corporate Real Estate at RBC.

(CAD 1.0 = USD 0.747/EUR 0.637)