Capstone Infrastructure Corp has reportedly signed a power purchase agreement (PPA) with Pembina Pipeline Corp to offtake 105 MW of renewable energy from the Wild Rose 2 Wind Farm.
The Ontario-based company has also signed a turbine supply agreement (TSA) with Siemens Gamesa Renewable Energy Inc. for procuring 38 SG 5.2-145 turbines.
The PPA indicates another step toward setting a low-carbon electricity industry in Alberta and offers the foundation that supports the company’s investment in the 192 MW Farm.
Capstone CEO David Eva has expressed that a partnership with Pembina will foster the energy transition by developing, building, and running top-class renewable energy plants. Mr. Eva pointed out that the Wild Rose 2 Wind Farm will be the fleet’s largest facility and will significantly contribute to helping Alberta achieve its goal of a net-zero electricity industry by 2035.
Scott Burrows, the President and Chief Executive Officer of Pembina believes that power purchase agreements are effective in supporting infrastructural development for renewable energy, lowering emissions, and shifting to a low-carbon energy system.
The Wild Rose 2 Wind Farm will be built in Alberta’s Cypress County, which is 35 km southeast of Medicine Hat. The plant will benefit from the area’s exceptionally high wind resources.
The subsidiary will build, own, and run the facility and the overall construction capital of the project is predicted to be USD 360 million with the construction anticipated to commence later this year.
For those unversed, Capstone is a builder, operator, and owner of clean, renewable energy projects throughout North America. It steers the energy transition through robust partnerships and a commitment to integrity and quality in the processing of doing business.
The company’s portfolio comprises an installed capacity of 776 MW across 30 plants, including solar, wind, biomass, hydro, and natural gas cogeneration power facilities.
On the other hand, Pembina owns a consolidated network of natural gas pipelines and hydrocarbon liquids, facilities for gathering and processing gas, natural gas liquids and oil logistics services, and a thriving business off export terminals.