Cenovus, Elemental Energy ink 150-MW solar PPA in Alberta

• Canadian energy group Cenovus Energy Inc (TSE: CVE) has actually signed an off-take offer to get electricity from an approximately 150-MW solar project suggested in Alberta by compatriot Elemental Energy Inc

The power purchase arrangement (PPA) is connected to the whole output of the photovoltaic or pv (PV) park as well as the linked discharges offsets, Cenovus claimed on Thursday. The contracted project is being implemented by a collaboration between Vancouver-based Elemental Energy and Cold Lake First Nations (CLFN).

The offer straightens with Cenovus' environmental, social & governance (ESG) program and its objective to minimize its scope 2 exhausts and also thus come to be net-zero by 2050, the oil and gas business stated.

The southerly Alberta solar park is anticipated to end up being operational in 2023.

Aside from solar, Elemental Energy is involved in the growth of wind and also hydropower projects throughout North America. In Alberta, it has 2 operational solar energy plants.