Vulcan solar farm — Canada’s largest — receives key $500M investment

Construction of Canada’s largest solar farm in Alberta is poised to proceed with the infusion of $500 million from a Denmark-based investment group.

The decision by the world’s large renewable energy fund, Copenhagen Infrastructure Partners, to bring global investors into the 1,900-hectare project on grazing land near the village of Lomond in Vulcan County is a watershed for the industry, said Dan Balaban of Calgary-based Greengate Power Corp.

“This show of confidence is great news for Albertans . . . It really speaks to the quality of the Alberta renewable energy resource,” said Balaban, CEO of the company that’s spearheading the project.

The Travers Solar Energy Project, to be one of the world’s largest, will feature 1.5 million panels set amid grazing land. It should begin taking shape in the middle of this year and be completed in late 2021, he said.

It’s projected to produce 400 MW (megawatts) of electricity with the potential of powering 100,000 homes and creating 500 full-time jobs during construction. The next-largest solar farm is in Ontario, with a capacity of 100 MW.

Key to this production is the fact southern Alberta enjoys an average of more than 300 days of sunny skies annually.

“Over the last decade, the cost of solar energy went down by 90 per cent, making it competitive with natural gas,” added Balaban.

To view the full original article by Bill Kaufmann, click here: https://calgaryherald.com/business/local-business/greengate-secures-partner-to-finance-countrys-largest-solar-project