PRI’s Wheatland Wind Project in Alberta
Toronto, Ontario, Canada (December 6, 2022) – Potentia Renewables Inc (“Potentia”) is proud to announce the official commercial operation of the Wheatland Wind Project (the “Project”), located thirty kilometres southeast of the Town of Drumheller in Alberta, Canada. The 120-megawatt (MW) Project received an Alberta Utilities Commission (AUC) approval in September 2018. Potentia executed two bi-lateral offtake contracts for the Project in Q2 2021 and subsequently closed financing in Q1 2022.
The Project will connect to Alberta’s electrical grid through an existing 138kV transmission line located within the project area, owned by ATCO Electric Ltd. The Project will generate more than 400,000 MWh of clean, reliable electricity each year, which is enough to power more than 50,000 Alberta homes.
This Project has used several local businesses for goods and services related to surveying, water trucks, fencers, hotel accommodations, waste management, sanitary services, fuel supply, welding, material supply, and more. During construction, the Project created approximately 150 jobs with an estimated 200,000 person-hours on site. During operations the Project will be an economic driver for the region, creating up to 10 permanent jobs and providing property tax payments representing 3-4% of the county’s 2021 annual budget.
“After just over a year of hard work since this project’s ground-breaking event, Potentia is pleased to announce that Wheatland has been safely brought into commercial operation on schedule. Many thanks to our host landowners, community partners, SkyFlo, Rising Edge Technology, Wheatland County and Siemens Gamesa Renewable Energy for their support and hard work. Potentia looks forward to being a valued community partner for decades to come and is proud to add to our growing fleet of clean energy projects providing green electricity to Alberta’s grid.”
– Ben Greenhouse, Senior Vice President, Potentia Renewables Inc.
About Potentia Renewables
Potentia Renewables Inc., a wholly owned subsidiary of Power Sustainable, is a fully integrated developer, owner, and operator of renewable energy assets. Potentia currently owns or manages nearly 1,000 MW of wind and solar projects that are in operation, under construction or under contract. Potentia benefits from strong financial support from its shareholder for large project initiatives. With an investor committed to our long-term success, combined with the industry experience of our team, Potentia has become a leading renewable energy provider in Canada, and is ideally positioned for continued substantial growth. For more information, visit www.potentiarenewables.com.
About Power Sustainable
Power Sustainable is a sustainable investment manager with offices in Canada, China, and the United States. Power Sustainable invests in companies and projects with the potential to deliver returns while contributing to decarbonization, social progress and quality growth. With approximately CAD $4.2B of assets under management, Power Sustainable deploys patient and purposeful capital in infrastructure, private equity, and public equities. For more information, visit www.powersustainable.com.