Power purchase agreement solutions from Bullfrog Power are helping businesses meet their sustainability targets and catalyze major renewable projects
Bullfrog Power, Canada’s leading green energy provider, has advised Shopify and MEGlobal Canada ULC on signing power purchase agreements that contribute to their sustainability goals and support the construction of new grid-scale wind and solar facilities.
Bullfrog Power Inc. (“Bullfrog Power”), Canada’s leading green energy provider, is pleased to announce the success of its power purchase agreement (PPA) solutions, an advisory service that helps organizations procure affordable, renewable electricity while supporting the development of new wind and solar projects in Canada. Shopify and MEGlobal Canada ULC were Bullfrog Power’s first PPA solutions customers, both signing a successful PPA earlier this year.
“Power purchase agreements are a fantastic way for organizations to procure green electricity, insulate themselves against rising energy costs, and actively contribute to Canada’s green energy transition,” said Suha Jethalal, President of Bullfrog Power. “These deals are complex, but Bullfrog Power’s PPA solutions team has the expertise and experience to guide your organization from the initial steps to an advantageous power purchase agreement.”
A power purchase agreement is a long-term financial agreement between an energy buyer and an energy seller. The buyer guarantees the seller a fixed price for energy from a renewable project that hasn’t been built yet. This fixed price guarantee helps the energy seller secure financing for their new wind or solar project, accelerating renewable growth.
Through its power purchase agreement solutions, Bullfrog Power helps organizations navigate the entire process, from identifying a project to reaching a signed PPA. Bullfrog Power advises its clients on choosing a renewable project that fits their needs, mitigating financial risk, and assembling buyers’ groups.
Once the new renewable project is online, the energy buyer receives renewable energy certificates (RECs) to lower its carbon footprint. With the right risk mitigation strategy, the buyer also gains insulation against rising or volatile energy prices.
Bullfrog Power recently advised MEGlobal Canada ULC on signing a power purchase agreement to offtake 126 MW from Capital Power’s Whitla Wind farm in Alberta. This agreement is one of the largest Canadian PPAs to date.
Bullfrog Power also provided PPA solutions to Shopify this year as they navigated a power purchase agreement to procure approximately 30,000 MWh per year from Berkshire Hathaway Energy Canada’s Rattlesnake Ridge Wind Power Project in Alberta.
“Bullfrog Power provided excellent support to Shopify as we identified and selected a high impact renewable energy project for our first PPA,” said Stacy Kauk, Head of Sustainability at Shopify.
Power purchase agreements enable businesses to catalyze the renewable energy transition, and these deals are gaining popularity rapidly. Before 2019, only 44 MW had been contracted through PPAs in Canada. In 2021, organizations used PPAs to contract 1,262 MW of renewable electricity.
Bullfrog Power signed two recent power purchase agreements to procure RECs for its green electricity customers. In 2020, Bullfrog Power was part of a buyers’ group with RBC to procure the majority of renewable electricity from BluEarth Renewable’s 39 MWAC Burdett and Yellow Lake Solar Facility. In 2022, Bullfrog Power partnered with RBC and Shopify to contract a combined 90,000 MWh per year from Berkshire Hathaway Energy Canada’s Rattlesnake Ridge Wind Power Project.
“Bullfrog Power’s purpose is to empower our community to build a renewably powered future, and power purchase agreements are helping us get there,” said Mrs. Jethalal. “We’re very proud of the new wind and solar projects that our clients helped bring to life, and we encourage other organizations to join us.”
Power purchase agreements provide businesses with significant environmental, financial, and brand benefits. Through its PPA solutions, Bullfrog Power looks forward to helping even more organizations take advantage of these benefits and help bring new renewable projects to Canada’s energy grid.
Click here to learn more about Bullfrog Power’s PPA solutions.
About Bullfrog Power
Bullfrog Power offers smart and sustainable energy solutions that help thousands of businesses and individuals meet their climate goals. In 2005, Bullfrog Power revolutionized Canada’s energy landscape by giving businesses and individuals a renewable energy choice for the first time. Bullfrog Power’s team of sustainability experts also offers solutions including power purchase agreements, energy efficiency, on-site solar, and a suite of green energy products. As a Certified B Corporation, Bullfrog Power meets higher standards of social and environmental performance, transparency, and accountability. Visit bullfrogpower.com to see how our sustainability solutions can power the future of your business, or join the bullfrogpowered community online on LinkedIn, Facebook, Instagram, and Twitter.