EDP Renewables SA (EDPR), through its fully owned subsidiary EDP
Renewables Canada Ltd. (EDPR Canada), and TC Energy Corporation
(TSX, NYSX:TRP) (TC Energy or the Company) have executed a 15-year
power purchase agreement (PPA) for 100 percent of the output of the
297-megawatt (MW) Sharp Hills Wind Farm, located in the Special
Areas municipality near the hamlets of Sedalia and New Bridgen, in
the province of Alberta. The PPA will enable the continued
development and eventual construction and operations of the wind
farm, subject to customary regulatory approvals and conditions.
The 297-MW Sharp Hills Wind Farm is anticipated to be
operational in 2023 and will deliver economic benefits to the local
project communities and the province of Alberta in the form of
payments to local landowners and property tax revenue to the
Special Area Board. Sharp Hills will also contribute to the
increase in money spent at businesses in the vicinity of the wind
farm. The project will create jobs with approximately 300
employment opportunities during the wind farm’s construction and
15-20 permanent, local jobs during the project’s operational life.
The Sharp Hills Wind Farm will also generate enough electricity to
annually power the equivalent of more than 164,000 average Alberta
homes and will save approximately two billion litres of water per
year.
“I want to commend TC Energy and EDP Renewables for their
commitment to diversifying Alberta’s energy mix. Our province
continues to experience significant investment growth in
market-based renewable energy as a result of our commitment to an
openly competitive electricity market. As a result, Albertans can
count on new investments to power our economy while lowering
emissions for decades to come,” said Dale Nally, Associate Minister
of Natural Gas and Electricity.
In addition to all the power produced by the Sharp Hills Wind
Farm, TC Energy will receive rights to all environmental
attributes. The Company is committed to finding solutions for the
sustainable energy future and, the investment in the Sharp Hills
Wind Farm contributes to its goal of shaping and contributing
meaningful advancement toward the energy industry at-large.
“This agreement, which is Alberta’s largest power purchase
agreement for wind, is an important step as TC Energy continues to
build its renewable energy portfolio,” said Corey Hessen, TC
Energy’s Senior Vice President and President, Power and Storage.
“This wind project, added to recent agreements in East Strathmore
and Claresholm, gives us the capability to offer a variety of
renewable energy solutions to Alberta customers. TC Energy is
focused on our own decarbonization efforts as well as being the
provider of choice for carbon-free energy to the North America
industrial, oil, and natural gas sectors.”
The Sharp Hills Wind Farm is EDP Renewables’ third wind farm in
Canada, joining its 30-MW South Branch Wind Farm and 100-MW Nation
Rise Wind Farm, both of which are operational and located in
Ontario.
“Sharp Hills has been thoughtfully developed for a number of
years, and I am pleased that with the execution of this contract,
we will soon commence construction of the project and supply
cost-effective, reliable energy to Albertans for decades to come,”
said Miguel Prado, EDP Renewables North America CEO. “We appreciate
our relationship with TC Energy and commend the company on its
mission to increase investment in zero carbon emission renewable
energy projects.”
About EDP Renewables North America
EDP Renewables North America LLC (EDPR NA), its affiliates, and
its subsidiaries develop, construct, own, and operate wind farms
and solar parks throughout North America. Headquartered in Houston,
Texas, with 58 wind farms, eight solar parks, and seven regional
offices across North America, EDPR NA has developed more than 8,300
megawatts (MW) and operates more than 8,000 MW of onshore
utility-scale renewable energy projects. With more than 800
employees, EDPR NA’s highly qualified team has a proven capacity to
execute projects across the continent.
For more information, visit www.edpr.com/north-america.
About EDP Renewables
EDP Renewables (Euronext: EDPR), is a global leader in the
renewable energy sector and the world's fourth-largest renewable
energy producer. With a sound development pipeline, first class
assets, and market-leading operating capacity, EDPR has undergone
exceptional development in recent years and is currently present in
17 international markets (Belgium, Brazil, Canada, Chile, Colombia,
France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain,
Hungary, the United Kingdom, the United States, and Vietnam).
EDPR is committed to furthering social advances in terms of
sustainability and integration. This is reflected by the inclusion
of the company in the Bloomberg Gender Equality index and the fact
that it has been certified as a Top Employer 2020 in Europe (Spain,
Italy, France, Romania, Portugal, and the United Kingdom) and a Top
Workplace 2020 in the United States, both of which recognize its
employee-driven policies.
Energias de Portugal, S.A. (EDP), the principal shareholder of
EDPR, is a global energy company and a leader in value creation,
innovation, and sustainability. EDP has been included in the Dow
Jones Sustainability Index for 13 consecutive years.
About TC Energy
We are a vital part of everyday life - delivering the energy
millions of people rely on to power their lives in a sustainable
way. Thanks to a safe, reliable network of natural gas and
crude oil pipelines, along with power generation and storage
facilities, wherever life happens — we’re there. Guided by our core
values of safety, responsibility, collaboration and integrity, our
7,500 people make a positive difference in the communities where we
operate across Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis release
contains certain information that is forward-looking and is subject
to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide TC Energy security holders and potential investors with
information regarding TC Energy and its subsidiaries, including
management's assessment of TC Energy's and its subsidiaries' future
plans and financial outlook. All forward-looking statements reflect
TC Energy's beliefs and assumptions based on information available
at the time the statements were made and as such are not guarantees
of future performance. As actual results could vary significantly
from the forward-looking information, you should not put undue
reliance on forward-looking information and should not use
future-oriented information or financial outlooks for anything
other than their intended purpose. We do not update our
forward-looking information due to new information or future
events, unless we are required to by law. For additional
information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to the most recent Quarterly Report to
Shareholders and Annual Report filed under TC Energy’s profile on
SEDAR at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
Media ContactsEDP Renewables North America
Media InquiriesBlair Matocha, Senior Communications
Managerblair.matocha@edpr.com(281) 414-7589
TC Energy Media InquiriesJaimie Harding / Jennifer
Linkmedia@tcenergy.com (403) 920-7859 or (800) 608-7859
TC Energy Investor & Analyst InquiriesDavid Moneta / Hunter
Mauinvestor_relations@tcenergy.com (403) 920-7911 or (800)
361-6522
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