Potentia Renewables Continues Its Growth In Western Canada, Winning 3 Long-Term Contracts In The Alberta Renewable Electricity Program

Potentia Renewables Inc. (Potentia) is excited to announce its success in multiple wind energy procurement processes in Western Canada.

On December 17, 2018, three of Potentia’s projects were awarded contracts in the Alberta Electric System Operators (AESO) Renewable Electricity Program (REP) procurements. Potentia and the AESO have signed three 20-year Renewable Electricity Support Agreements totaling 306.8MW for output from the Jenner Wind Power Project, the Jenner Wind Power Project 2 and the Stirling Wind Project. The full press release can be found here.

The Jenner Wind Power Project (122.4 MW) and Jenner Wind Power Project2 (71.4 MW) were successful in REP 3 and are both wholly owned by Potentia. The projects are located near the hamlet of Jenner, Alberta.

The Stirling Wind Project (113 MW) was successful in winning a REP 2 contract. This project is being developed by Potentia in collaboration with the Paul First Nation and Greengate Power Corporation. The Stirling Wind Project is located in the County of Warner No.5 and Lethbridge County and is expected to begin construction in the near future. Potentia would like to thank its partners for their help and support on the project and is excited to work with them in bringing the Stirling Wind Project into operation.

“On behalf of the Paul First Nation, we are very happy to partner and participate in this large renewable project for generations to come” said Chief Arthur Rain of the Paul First Nation.

The above contract announcements complement Potentia’s recent success in Saskatchewan. Earlier this year Potentia received the only contract awarded in SaskPower’s wind energy procurement process when Potentia and SaskPower signed a 25-year power purchase agreement for 200 megawatts of low-priced wind electricity. The full SaskPower media release can be read here.

Potentia’s Golden South Wind Energy Facility is located south of the Town of Assiniboia. The facility could begin commercial operation as early as 2020 and is expected to produce enough renewable electricity to power approximately 90,000 Saskatchewan homes.

The recent contract awards of over $750 million of renewable projects represent an extraordinary development for our wind energy platform in Canada. We were awarded 100% of the Saskatchewan tender and 40% of the Alberta tender, competing against the best wind energy companies in the world. This clearly demonstrates the value of our strategy of early stage investment in renewable energy markets and the faith of our shareholder to support this investment stated Jeff Jenner, Chief Executive Officer of Potentia.

Potentia has brought together a successful and experienced wind development team to complement its industry-leading solar-energy expertise. The team has built the largest and most competitive wind development platform in Western Canada and looks forward to adding new contracts to the platform created by the more than 500 MW of contracted projects in Western Canada over the next few years.

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