Scotiabank to purchase power from planned 40-MW solar farm in Alberta

Scotiabank signed a 15-year power purchase agreement with Brookfield Renewable Partners LP's Canadian operating business, Evolugen, to receive power from a planned 40-MW solar farm planned for northeast of Cardston, Alberta.

The facility, called Spring Coulee Solar, is expected to generate close to 60,000 MWh in its first year of operation, Scotiabank said in a Feb. 9 news release.

Construction of the project is expected to begin this summer, with operations slated to begin in 2023. Once operational, Scotiabank said in the release it will purchase all of the project's output to reduce its greenhouse gas emissions.

Scotiabank has a goal to secure 100% emissions-free electricity in Canada by 2025.