Cenovus to buy renewable power from Cold Lake First Nations, Elemental Energy partnershipPower Purchase Agreement (Ppa) • July 22nd, 2021 • Cenovus Energy Inc. • Crude petroleum & natural gas
The southern Alberta project will add 150 megawatts of renewable energy to the province’s electricity grid once completed and is expected to begin producing electricity in 2023. Cenovus has signed a 15-year PPA for the full output of the facility, providing the offtake contract necessary for the construction of the project and ultimately helping Cenovus mitigate its scope 2 emissions. Scope 2 emissions are those represented by purchased or acquired electricity, steam, heat and/or cooling. In Cenovus’s case, these emissions primarily result from purchased electricity.
