- BHE signs PPA with Royal Bank of Canada, Bullfrog Power Inc, and Shopify Inc
- The group will buy a total of 90,000MWh per year
- BHE stated that it is still looking for new renewable energy projects to invest in
BHE Canada, a subsidiary of Warren Buffett’s Berkshire Hathaway Energy, will sell electricity generated by its 130MW Rattlesnake Ridge wind project in Alberta under three corporate power off-take agreements.
The power purchase agreements (PPAs) were negotiated with Royal Bank of Canada, Bullfrog Power Inc, and Shopify Inc, allowing them to obtain environmental qualities to satisfy their environmental goals and reduce existing carbon production. BHE Canada said that the wind farm’s output would be fully contracted before the unit goes online.
The group will buy 90,000MWh per year, with each buyer receiving an equal third of the total through their PPAs. The Rattlesnake Ridge wind farm, which is now under construction in southern Alberta, will be equipped with 26 Siemens Gamesa turbines and is expected to be connected to the grid by May 2022.
BHE Canada used a combination of loan and equity to fund the CAD 200 million (USD 155.9 million/EUR 140.7 million) project. Government subsidies or tax breaks will not aid the wind farm’s operation. The Canadian firm stated that it is still looking for new renewable energy projects to invest in.