Danish energy investment firm Copenhagen Infrastructure Partners (CIP) and Canadian energy company Greengate Power have announced the start of construction on the Travers Solar project in Alberta, Canada.
Last February, the two companies signed an investment agreement for the development of the 465MWac solar power project.
Travers Solar is estimated to require a total investment of around $568.9m (C$700m) and is expected to become Canada’s largest solar project.
Located in Vulcan County, the project will have around 1.3 million monocrystalline bifacial photovoltaic panels supplied by Jinko Solar Canada.
Multinational construction conglomerate PCL Construction has been contracted for the project’s construction work.
CIP is funding the project’s construction and operation on behalf of the Copenhagen Infrastructure IV (CI IV) fund.
Greengate will have an ongoing economic interest in the solar project, which is expected to create almost 500 full-time jobs during its construction phase.
Greengate CEO Dan Balaban said: “Greengate is excited to work with CIP to bring this world-class project to completion.
“Travers Solar will significantly improve Alberta’s environmental performance, adding to Greengate’s proven track record of successfully developing renewable energy projects of scale in Canada that deliver strong investor returns.
“Greengate is proud to play a key role in creating market-based solutions that enable the global energy transition to net-zero.”
CIP senior partner Christian Skakkebaek said: “CIP is pleased to continue growing its North American renewable energy portfolio through our investment in Travers Solar, CIP’s first investment in Canada.
“Alberta is an attractive market for investment and we look forward to working with Greengate and our local partners to bring this exciting project to completion.”
Due to be fully operational by the end of next year, the Travers Solar project is expected to generate enough electricity to power more than 150,000 households in Alberta.
Technology company Amazon has entered into a corporate power purchase agreement to acquire up to 400MWac of the energy generated by the project.