June 27, 2022
BluEarth Renewables Celebrates Ground-Breaking at its 145 MW Hand Hills Wind Project
Calgary, Alberta – June 27, 2022 – BluEarth Renewables Inc. (“BluEarth”) celebrated the ground-breaking at its 145 MW Hand Hills Wind Project (“the Project”) in Alberta, joined by The Honourable Dale Nally, Associate Minister of Natural Gas and Electricity, and representatives from Starland County. The Project will inject over $250 million of capital investment into the Alberta economy and provide over 175 jobs during peak construction.
“This is a significant project milestone, and we are very grateful for the support of the local landowners, the community and both Starland County and Special Areas 2,” said Grant Arnold, President & CEO of BluEarth. “The Hand Hills Wind Project will bring considerable economic benefit to the region, and we are pleased to continue our investment in our home province of Alberta.”
“Projects like BluEarth’s new Hand Hills Wind Facility are exactly what we wanted to see when we moved ahead with our energy-only market,” said Associate Minister Dale Nally. “Not only will it provide low-emissions energy to support our long-term decarbonization goals, but also 175 jobs for Albertans and $250 million towards our provincial economy, all without taxpayer subsidies. We are proud to have companies like BluEarth choosing Alberta for their renewable projects.”
The Project, located northeast of Drumheller, Alberta, will generate enough clean, renewable energy for approximately 68,000 homes annually and is expected to reach commercial operation in early 2023. The Hand Hills Wind Project will also provide indirect revenue to the local municipality in the form of local services and supplies, and contribute significant and stable long-term property tax revenue over the life of operations.
The electricity and associated emission offsets from 100 MW of the Project’s capacity will be sold to Shell Energy North America (Canada), Inc. in support of its target to be a net-zero emissions energy business by 2050.
BluEarth recently closed approximately $145 million in non-recourse debt for the Project, which includes both construction and term debt financing. ATB Financial acted as the Administrative Agent and Coordinating Lead Arranger, with Desjardins, Royal Bank of Canada, and Siemens Financial acting as Joint Lead Arrangers.
BluEarth has been developing the Project since it was acquired in 2012 and will be the long-term operators of the facility. For more information about the Hand Hills Wind Project, please visit BluEarth’s website.
About BluEarth Renewables
BluEarth Renewables brings together extraordinary people with the power to change the future™ by delivering renewable energy to the power grid every day. We are a leading, independent, power producer that acquires, develops, builds, owns, and operates wind, hydro and solar facilities across North America. Our portfolio includes 723 MWAC (gross) in operation, under construction and contracted pre-construction, and over 5 GW of high-quality development projects that are actively being advanced. For more information, visit bluearthrenewables.com or follow us on twitter @BErenewables.
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