TORONTO (April 27, 2022) – Potentia Renewables Inc. (Potentia) announces the commercial operation of the 200MW, Golden South Wind Energy Facility (the Project) near Assiniboia, Saskatchewan.
With an average annual power generation of approximately 900,000 MWh, the Project provides clean power for up to 100,000 Saskatchewan homes. The Project represents a $340 million investment in the province, consisting of 50 permanent magnet direct drive wind turbines with a net capacity of 200 Megawatts (MW). The Project is contracted under a 25-year power purchase agreement with SaskPower to supply both energy and environmental credits. At this time, it is the largest wind generation facility in Saskatchewan and will help inject an estimated $45 million back into the local community over its 25-year lifespan.
“We are very proud of the collaboration between the teams of SaskPower and Potentia as they worked together to overcome unprecedented logistical and health and safety challenges stemming from the COVID-19 pandemic arising during the construction period,” said Ben Greenhouse, Senior Vice President, Growth. “We look forward to continued collaboration with SaskPower over the life of this project.”
“SaskPower’s commitment to reducing its emissions is evident in today’s announcement,” said Troy King, SaskPower Interim President and CEO. “Expanding our renewable generation portfolio is a critical part to providing safe, reliable, and cost-effective power to Saskatchewan.”
The commissioning of the Project increased the Potentia operating portfolio to more than 500MW of wind and solar projects in North America. This is the first Potentia wind project to be commissioned from a contracted wind energy portfolio of a total of 900MW scheduled to come online in the next 2 years.
About Potentia Renewables
Potentia Renewables Inc., a wholly owned subsidiary of Power Sustainable Capital, is a fully integrated developer, owner, and operator of renewable energy assets. Potentia benefits from strong financial support from its shareholder for acquisitions and large project initiatives. With an investor committed to our long-term success and the significant, combined with the industry experience of our team, Potentia has become a leading renewable energy provider, and is ideally positioned for continued substantial growth. For more information, visit www.potentiarenewables.com.
About Power Sustainable Capital
Power Sustainable Capital is a global multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies. It has offices in Montréal, Toronto, Shanghai, Beijing and New Jersey. Power Sustainable is comprised of three platforms: the Pacific platform invests in the China equity markets, seeking high-quality, sustainable business models with a fundamentals-based, research-driven investment process; the Energy Infrastructure platform invests in the development, construction and operations of renewable energy infrastructure assets in North America; and private equity investments in Lion Electric and Lumenpulse. The company leverages its investment capabilities and those of its partners to build projects of significance that benefit the planet, assure steady growth, and create long-term value. Power Sustainable is a wholly owned subsidiary of Power Corporation of Canada. For more information, visit www.powersustainable.com.
