Tag: canada

TotalEnergies acquires renewable energy portfolios across Canada and other markets

TotalEnergies acquires renewable energy portfolios across Canada and other markets

April 7, 2025 | , , ,

TotalEnergies has completed the acquisition of three renewable energy portfolios across Europe, Africa, and Canada. This includes the acquisition of VSB Group and SN Power for projects in Europe and Africa. It also consists deals with RES for acquiring renewable energy projects in Alberta. The acquisition of VSB Group comprises 500 MW installed or under construction capacity and a pipeline of more than 15 GW of solar and wind projects.

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Hydrostor secures $200 million to develop compressed air energy storage projects 

Hydrostor secures $200 million to develop compressed air energy storage projects 

February 17, 2025 | , ,

Hydrostor has secured a $200 million investment for the development of Advanced Compressed Air Energy Storage (A-CAES) projects in Canada and around the world. This investment was secured from Canada Growth Fund (CGF), Goldman Sachs Alternatives, and Canada Pension Plan Investment Board (CPP Investments). The investment includes a $150 million convertible note financing commitment from these investors. Additionally, CGF has provided a $50 million convertible development expenditure loan facility.

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CIB invests $224.2 million in Port Hawkesbury Paper Wind project

CIB invests $224.2 million in Port Hawkesbury Paper Wind project

January 10, 2025 | , ,

The Canada Infrastructure Bank (CIB) has decided to provide $224.2 million as a loan to Port Hawkesbury Paper Wind Ltd for developing a large-scale wind energy project. Additionally, this funding will support 13 Mi’kmaw First Nations, through Wskijinu’k Mtmo’taqnuow Agency Ltd. (WMA), in acquiring a 10 per cent stake in the project. Furthermore, Goose Harbour Lake Wind Farm will support Port Hawkesbury Paper’s energy requirements and Nova Scotia’s transition to clean power. 

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CIP acquires majority stake in ABO Energy’s wind & hydrogen project

CIP acquires majority stake in ABO Energy’s wind & hydrogen project

December 19, 2024 | , , ,

Copenhagen Infrastructure Partners (CIP) has acquired a majority stake in the Toqlukuti’k Wind & Hydrogen project through its Energy Transition Fund (CI ETF I). This is a large-scale onshore wind and hydrogen project located in Newfoundland & Labrador, Canada. The stake was acquired from Germany-based renewable energy developer ABO Energy, which will remain involved as a minority shareholder and co-developer of the project.

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Clean Energy Can Help Reduce Inflation for Canadians

Clean Energy Can Help Reduce Inflation for Canadians

August 19, 2024 |

Overdependence on fossil fuels, which are volatile and tend toward high costs, is a problem for Canadian consumers, inflation, and affordability. Record inflation has been driven in large part by oil and gas price increases that have spilled over into other areas of the economy sensitive to energy inputs. By reducing its dependence on fossil fuels, Canada can fight climate change and inflation in a way that supports affordability, shielding consumers from energy price fluctuations by transitioning toward the use of clean and efficient energy sources that have lower and more stable prices. Governments have a role to play to strategically discourage the use of fossil fuels through policies such as carbon pricing, fuel taxation, and fossil fuel subsidy reform.

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LS Power to take over renewable energy division from Algonquin Power

LS Power to take over renewable energy division from Algonquin Power

August 12, 2024 | , , ,

LS Power has finalised an agreement with Algonquin Power & Utilities Corp. (AQN) to acquire its renewable energy division. The Renewables Business primarily consists of wind and solar assets spread across the United States and Canada. This includes 44 operating assets with a total generating capacity exceeding 3,000 MW, along with an 8,000 MW pipeline of wind, solar, battery energy storage, and renewable natural gas projects at various stages of development.

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BlackRock agrees to invest $500 million in Canadian solar unit

BlackRock agrees to invest $500 million in Canadian solar unit

January 24, 2024 | , ,

Recurrent Energy, part of Canadian Solar, has obtained a $500 million investment commitment from BlackRock’s Climate Infrastructure Fund. Recurrent Energy will have 20 per cent of its capital made up of preferred equity investments, which are convertible into common stock. Canadian Solar will hold the remaining capital. Recurrent Energy will be able to construct more projects thanks to BlackRock’s funding, especially in the US and Europ

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EDPR NA to begin operations at 297 MW Canadian wind farm

EDPR NA to begin operations at 297 MW Canadian wind farm

January 23, 2024 | , ,

EDP Renewables North America (EDPR NA) and EDP Renewables Canada (EDPR Canada) have started operations at the 297 MW Sharp Hills wind farm in Sedalia and New Bridgen in Alberta, Canada. The power will be supplied to TC Energy, a Calgary-based company that operates in natural gas, oil, and power. The launch of the Sharp Hills wind farm follows a memorandum of understanding between EDPR NA and the Invest Alberta Corporation. A C$600 million investment was made to build the wind farm.

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Orlen concludes FID on 1.2 GW Baltic Power offshore wind project

Orlen concludes FID on 1.2 GW Baltic Power offshore wind project

October 12, 2023 |

Orlen has concluded the final investment decision (FID) on the 1.2 GW Baltic Power offshore wind farm in the Baltic Sea. The FID certifies that all required building licences have been collected, all essential elements and funds have been secured. Reportedly, Orlen is constructing the project in collaboration with Northland Power of Canada.

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Boralex and the Innu got $ 608 million for Apuiat wind farm 

Boralex and the Innu got $ 608 million for Apuiat wind farm 

September 11, 2023 |

Boralex and its Innu community partners at Parc éolien Apuiat S.E.C. (Innu) have received a $608 million investment for the 200 MW Apuiat wind farm on Quebec’s North Shore. Desjardins Group is providing long-term financing for the wind farm. CaixaBank, DZ Bank AG, and the Korea Development Bank are the additional financial institutions.

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Ford, EcoPro BM and SK On to set up cathode plant in Canada

Ford, EcoPro BM and SK On to set up cathode plant in Canada

August 18, 2023 | , ,

A consortium led by Ford, including South Korea’s EcoPro BM and SK Innovation, has announced its intention to establish a CAD 1.2 billion cathode manufacturing facility in Canada. The plant will be located in Becancour, Quebec, Canada. The project is being built on 280,000-meter square land. The facility, which will comprise a six-floor building, will commence operations in the first half of 2026.

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LGES, Stellantis resume Ontario plant construction as subsidy deal reached

LGES, Stellantis resume Ontario plant construction as subsidy deal reached

July 6, 2023 |

Stellantis, a global automaker, and LG Energy Solution, a South Korean battery manufacturer, have resumed construction at their joint-venture electric vehicle (EV) battery plant in Canada after securing an enhanced package of government subsidies. The two companies would get increased subsidies totaling $3.7 billion from the federal government and the state of Ontario. Stellantis and LG announced the facility in March 2022, with completion targeted for 2024, creating 2,500 jobs will be generated as a result.

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Goldbeck obtains $49.7 million from RGreen for Canada and Chile solar projects

Goldbeck obtains $49.7 million from RGreen for Canada and Chile solar projects

July 6, 2023 |

Goldbeck Solar, a German solar developer, has acquired a $47.9 million HoldCo loan facility from French asset management RGreen Invest to build four solar projects totaling 93 MW. The finance is provided by RGreen through its Infrabridge III senior debt fund. The four ground-mounted solar power facilities, with respective capacities of 69 MW and 24 MW, are situated in Chile and Canada.

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Ameresco and Atura to construct 250 MW battery storage system in Canada

Ameresco and Atura to construct 250 MW battery storage system in Canada

June 9, 2023 |

The Canadian independent electricity system operator (IESO) has selected renewable energy company Ameresco and its partner Atura Power to build a 250MW/1,000 megawatt-hour battery energy storage system (BESS) in Ontario province.
Ameresco and Atura Power, an Ontario Power Generation affiliate, will build the project as a joint venture (JV) under the name Napanee BESS. The BESS project will be built next to Atura Power’s Napanee generating station and Ontario Power Generation’s Lennox generating station in the town of Greater Napanee.

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<strong>Northland Power to sign agreements for Oneida storage project</strong>

Northland Power to sign agreements for Oneida storage project

February 14, 2023 |

Northland Power, a Canadian energy firm, has finalised an energy storage storage facility to deal with Canada’s Independent Electricity System Operator (IESO) for the Oneida energy storage project. Reportedly, the Oneida project is one of the biggest battery energy storage projects in the world and the largest in the country. Upon completion in 2025, it will raise the quantity of energy storage resources on Ontario’s clean electricity grid from roughly 225 MW to nearly 475 MW.

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<strong>Westbridge Renewable purchases solar and BESS project in Canada</strong>

Westbridge Renewable purchases solar and BESS project in Canada

February 3, 2023 |

Westbridge Renewable Energy, a Canadian energy corporation, has acquired the Red Willow Project, a 295 MWp solar photovoltaic (PV) and 100 MW/200 MWh battery energy storage system (BESS) in Canada. No financial details of the deal have been disclosed. Red Willow is presently in the second stage of the Alberta Electric System Operator (AESO) interconnection procedure and is situated in Stettler County #6 in central Alberta.

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<strong>Amazon procures record 8.3 GW of clean energy in 2022</strong>

Amazon procures record 8.3 GW of clean energy in 2022

February 2, 2023 |

Amazon has recently announced that in 2022 it grew its renewable energy capacity by 8.3 GW through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. With these continued investments, reportedly, Amazon set a new corporate record for the most renewable energy announced by a single company in one year.

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<strong>Innergex to acquire 60 MW solar portfolio in Ontario, Canada</strong>

Innergex to acquire 60 MW solar portfolio in Ontario, Canada

January 24, 2023 |

Innergex Renewable Energy, a Canadian hydroelectric power firm, has agreed to buy Fengate Asset Management’s Sault Ste Marie solar portfolio. The Sault Ste Marie I, II, and III facilities are part of the 60 MW solar portfolio, which is situated in northwest Ontario.  It was sold for a consideration of C$50.2 million, along with the assumption of C$169.5 million of existing debt.

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