Canada’s Greengate signs 20-year RESA for Stirling wind project

18 December 2018 (Last Updated December 19th, 2018 09:52)

Canadian sustainable energy company Greengate Power has signed a 20-year renewable electricity support agreement (RESA) with Alberta Electric System Operator for its 113MW Stirling wind project.

Canada’s Greengate signs 20-year RESA for Stirling wind project
Under RESA, Stirling Wind project will receive a guaranteed price for the power it produces. Credit: RawFilm on Unsplash.

Canadian sustainable energy company Greengate Power has signed a 20-year renewable electricity support agreement (RESA) with Alberta Electric System Operator for its 113MW Stirling wind project.

As per the RESA, the Stirling wind project will secure a guaranteed price for all the power it generates for 20 years.

Located across the County of Warner No.5 and Lethbridge County, almost 30km southeast of Lethbridge city, Stirling is jointly-owned by Greengate, Potentia Renewables and Paul First Nation. Potentia owns a majority stake in the project.

Greengate president and CEO Dan Balaban said: “The Stirling Wind project is among the first successful renewable energy project partnerships between industry and a first nations community in Alberta.

“We applaud the Government of Alberta for the continued success of its renewable electricity programme, which is delivering long-term, low-cost clean power for Albertans.”

"We look forward to completing Stirling with our partners so that its social, economic and environmental benefits can be realised by all involved."

The project is expected to be under construction in the near future.

Balaban added: “Stirling is the third wind energy project successfully developed by Greengate in Alberta and demonstrates Greengate’s continued leadership in Alberta’s fast-growing renewable energy sector.

“We look forward to completing Stirling with our partners so that its social, economic and environmental benefits can be realised by all involved.”

In April, Greengate Power secured a multi-year, $100m equity commitment from Fengate Real Asset Investments for the development and acquisition of projects in Alberta.

Based in Calgary, Greengate has developed 480MW of operating wind energy projects in Alberta and Ontario. Representing an investment of approximately C$1bn ($745m), these projects provide clean power to over 200,000 homes.

Currently, Greengate is pursuing the development of more than 1,000MWof energy projects in Alberta and across North America.