ATCO acquires Empress Solar Project, a 39 MW solar photovoltaic installation under development in Alberta.
Seller’s name not yet known
This purchase marks a further step in the company’s commitment to decarbonizing the electricity sector.
The rights to the project are being acquired, through Canadian Utilities Limited, from a third-party developer.
Financial terms of the agreement are not disclosed.
The project, located south of the village ofEmpress near the Alberta-Saskatchewan border, has received its major permits.
Construction of the project is underway, with commercial operation scheduled for 2022.
Power from the project will be sold on the Alberta electricity market.
The Group is currently negotiating with potential buyers.
Supply 11,000 homes a year
The project will use around 85,000 bifacial solar panels attached to a single-axis tracking system.
The installation is expected to provide enough renewable electricity to power over 11,000 homes per year, offsetting 43,000 tonnes of carbon per year.
ATCO is a diversified global company investing in core Structures & Logistics services.
The company has around 6,200 employees and over $22 billion in assets.
In recent months, it has completed Canada’s largest and most northerly off-grid solar project.
The group has also announced a globalgreen hydrogen project and has begun work on a renewable natural gas production facility.
