Tidewater Renewables announces that it has entered into a 20 year purchase agreement with FortisBC Energy through its subsidiary Rimrock Renewables.
A purchase agreement
Tidewater Renewables says this renewable natural gas (RNG) will come from a facility in Alberta’s Foothills County. Under the purchase agreement, FortisBC plans to purchase up to 525,000GJ of RNG per year from the conversion of organic waste. As a result, more than 5,800 residential homes in British Columbia will benefit from this energy.
The purchase agreement remains subject to regulatory approval by the British Columbia Utilities Commission. Thus, their decision will come in the first quarter of 2023. In addition, the Canadian company plans to begin supplying FortisBC with RNG by the first half of 2024.
Installation of GNR
the RNG facility will convert manure to pipeline grade RNG with negative carbon intensity scores. This will be achieved through a process of anaerobic digestion and gasification. Tidewater Renewables hopes to obtain all of its feedstock requirements.
From the start of commercial operations and for the duration of the project, RNG deliveries will benefit from this process. In addition, once operational, the GNR facility will generate $10 million in current EBITDA. Finally, the supply of RNG to FortisBC Energy will start in the first half of 2024.
