CP committed to sustainability, investing in solar power at its Calgary headquarters

Source: · CPR · | August 12, 2020

Above: An artist rendering of CP's planned solar energy farm at its corporate headquarters in Calgary. Source: CPR.

Canadian Pacific (TSX: CP) (NYSE: CP) has begun work to install a solar energy farm at its corporate headquarters in Calgary. The installation is expected to generate more power than consumed annually at CP's main headquarters building by early 2021.

The project, which will be built over five hectares and see 500 parking stalls covered and a solar garden created, will generate up to five megawatts of electricity while avoiding an estimated 2,600 tonnes of carbon emissions a year, equal to taking approximately 570 cars off the road. The project will also assist in reducing CP's Scope 2 emissions, a category specific to indirect emissions related to electricity usage.

"At CP, we are sustainably driven and today's announcement further exemplifies that," said CP President and Chief Executive Officer Keith Creel. "We are taking advantage of our unique headquarters footprint in Calgary, just outside of the downtown core, to develop one of the largest private solar operations in the province. We look forward to seeing the project come on line in early 2021, and to having it featured as part of our beautiful, historic and expansive Calgary campus."      

CP moved its headquarters, including its operations centre, from leased downtown office space in Calgary to the company-owned 101 hectare campus in Ogden in 2013. The one-of-a-kind campus features large green spaces, walking paths, cafeteria and other amenities. Today's announcement will mean free covered parking for employees and designated electric vehicle charging stations.