On July 22, 2021, Cenovus Energy announced its agreement to purchase 150 megawatts of electricity and renewable energy credits as a bundled PPA, from the Cold Lake solar power project, located in Southern Alberta. Elemental Energy Inc., an operator of renewable energy projects, and the Cold Lake First Nation will also collaborate on this project. It is expected to be producing power by 2023, by providing 150 MW of renewable energy to the province of Alberta’s electricity grid.
Cenovus Energy Inc. is a Canadian integrated oil and gas company that develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region.
Osler, Hoskin & Harcourt LLP advised Cenovus with a team consisting of Paula Olexiuk (Energy) and Dana Saric (Financial Services).