ACFN Announces Major Investment in Alberta Clean Electricity with Concord Pacific

Source: · GREEN PLANET ENERGY ANALYTICS · | May 4, 2021

Source: Pixabay

May 4, 2021– Fort Chipewyan & Fort McMurray Alberta

The Athabasca Chipewyan First Nation (ACFN) has finalized investments and is proceeding immediately in a new renewable energy venture with Concord Pacific / Concord Green Energy (Concord).  The venture starts off with a portfolio of three solar farms in Southern Alberta totalling 67.6 MWAC of installed capacity that has just commenced construction.

ACFN completed a Green Energy Business Investment Strategy in 2018 as part of its sustainable community energy and economic development planning and has been working actively with Concord since January of 2020. ACFN has created a new green energy business company – ACFN Green Energy LP – to hold its interests in the venture.

Chief Allan Adam explained “We dipped our toes in the green energy business with our Three Nations Energy Fort Chipewyan Solar Farm (together with ATCO, Mikisew Cree and Fort Chip Metis 125). It will provide most of our community’s power in summer and a quarter of our total electricity needs over the year.”  Chief Adam stressed “we also have to walk the talk on environment and climate protection in our business activities. ACFN wants to be a leader in helping Alberta and Canada protect climate. Solar is now one of the cheapest and best choices for power and this business venture lines up with our environmental responsibilities and values.”

The Portfolio includes the Coaldale Solar, Vulcan Solar and Monarch Solar Farms, all located southeast of Calgary. These will be “merchant power” plants selling into the AESO administered market without long-term power purchase agreements. The three sites will produce about 140,000 MWh of clean, renewable, low carbon electricity for sale each year.  Construction will be substantially completed within 12 to 14 months.  The total project capital cost of about $140 million CDN includes a substantial overbuild of PV capacity for revenue optimization as well as provision for easily adding Battery Energy Storage Systems.