Bullfrog Power signs renewable energy power purchase agreement alongside Shopify and RBC
The agreement with Berkshire Hathaway Energy Canada will support a 130 MW wind project in southern Alberta
Toronto, Ontario, March 9 â Bullfrog Power Inc. (âBullfrog Powerâ), Spark Powerâs sustainability division, is pleased to announce the signing of a power purchase agreement (âPPAâ) that directly supports the construction of Berkshire Hathaway Energy Canadaâs utility-scale wind project. The 130 MW Rattlesnake Ridge Wind Power Project (âthe Projectâ), located southwest of Medicine Hat, Alberta, is expected to begin commercial operations by May 2022.
Companies use PPAs to facilitate renewable growth and obtain an economic supply of green energy attributes. They achieve this by providing price certainty to developers, which helps developers secure financing for the new wind or solar project.
Bullfrog Power partnered with RBC and Shopify to form a buyersâ group and stack demand for a large new renewable project. The companies signed PPAs with Berkshire Hathaway Energy Canada to offtake approximately 30,000 MWh each per year, equivalent to the power used by about 3,800 homes. This buyersâ group approach is an effective way for companies with smaller energy footprints to accelerate and support the construction of grid-scale renewable projects like the Rattlesnake Ridge Wind Power Project. The group is joining an anchor tenant, a large Canadian corporate partner that signed a PPA for the majority of the Projectâs energy output.
Project highlights:
- Injects $56 million of capital investment into the Alberta economy
- 26 turbines will produce enough energy to supply 78,000 homes
- Expected to provide 150 jobs at peak construction
Bullfrog Power provided advisory services to Shopify, helping them navigate their first PPA. Through their PPA solutions, Bullfrog Power advises organizations on signing PPAs, helps companies mitigate financial risk, and assembles buyersâ groups. By signing their own PPA alongside their client, Bullfrog Power shows their confidence in how impactful and affordable these agreements are.
Bullfrog Power and RBC signed their first PPAs in July 2020 to support the construction of BluEarth Renewablesâ Burdett and Yellow Lake Solar Project in Alberta. The 39 MWAC project came online in May 2021, showcasing how PPAs can drive rapid renewable growth.
âPower purchase agreements are the best way for companies to make a positive impact on our energy systems and secure affordable green energy attributes. Itâs time for every business to put their money where their values are,â said Suha Jethalal, President of Bullfrog Power. âWeâre delighted to show whatâs possible and to help other organizations along the path to renewable energy through our PPA solutions.â
âA global transition to clean energy is critical for powering commerce and entrepreneurs, and working alongside RBC and Bullfrog Power was essential for stacking demand,â said Stacy Kauk, Director of Shopifyâs Sustainability Fund. âWeâre excited to have signed a PPA that enables a high impact energy grid decarbonization project, and demonstrate another way that Shopify is supporting carbon removal technologies like direct air capture that rely on clean energy.â
âThis agreement, and our partnership with Bullfrog Power and Shopify, is key to achieving our renewable energy goals â which are part of our strategy to drive clean economic growth in partnership with our clients and communities,â said Alex Boulos, VP of Climate Strategy & Governance at RBC. âWe are proud to continue leading by example â accelerating our collective transition to net-zero and a sustainable and inclusive future.â
âSustainability is a core value and integral to our work and the communities we serve,â said Richard Jackson, President & CEO of Spark Power. âThrough Sparkâs sustainability division, Bullfrog Power, we are enabling customers to invest in green energy solutions that are helping to reduce their carbon footprints and meet their organizationsâ environmental goals.â
âThe Rattlesnake Ridge Wind Power Project is the first step of BHE Canadaâs journey to invest in renewable energy sources across the country,â said Ed Rihn, Senior VP of Government Relations & Corporate Development at BHE Canada. âThese power purchase agreements are an example of the demand for clean, renewable energy for Canadian businesses to create a more sustainable future.â
Bullfrog Power looks forward to building on the success of their first two PPAs and helping other companies choose renewable energy, whether through traditional renewable energy certificate (REC) sales or with their power purchase agreement solutions.
Click here to learn more about Bullfrog Powerâs PPA solutions.
About Bullfrog Power, Spark Powerâs sustainability division
Bullfrog Power, part of Spark Power Group Inc. (TSX: SPG), offers smart and sustainable energy solutions that help thousands of businesses and individuals meet their climate goals. In 2005, Bullfrog Power revolutionized Canadaâs energy landscape by giving businesses and individuals a renewable energy choice for the first time. Bullfrog Powerâs 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.
Media Inquiries:
Heather Eason, Content Marketer, Bullfrog Power
heason@bullfrogpower.com