By Kent Brown, President & CEO
Looking back on 2013, I have never been more proud of the amazing team that we have and the incredible company we are building. It was just over three years ago when we opened our doors with a bold plan to be the leader in renewable energy in Canada – optimizing people, planet and profit. We want to be an example of how to be sustainable and profitable, leaving the world a better place. At BluEarth Renewables, we know that we have the power to change the future in positive ways, for our children and our children’s children.
Here is a selection of 2013 accomplishments we are proud of:
- We acquired five solar projects totalling 70 megawatts (MW) in Ontario. These projects will be operational next year – all under 20-year power purchase agreements (PPAs).
- We acquired a 15 MW run-of-river hydroelectric project in British Columbia with a 30-year PPA that will start construction once the snow melts and we expect to be operational at the end of 2015.
- We received regulatory approval for our 58 MW Bow Lake Wind Project in Ontario that has a 20-year PPA. We expect to start construction in 2014 and bring the project on-line in phases in 2014 and 2015.
- We worked extremely hard to answer all stakeholder questions about the Bull Creek Wind Project. Completing the Alberta Utilities Commission hearing was major step in this process. In the New Year we will continue to work with all interested parties to further build support for this important project.
- We continued to build a great team of passionate, committed, persistent and caring people. Today, we are 28 people strong.
All told, we will have invested $600 million of capital by the end of 2015. This is a big accomplishment for any company and even bigger for one that started up just over three years ago.
As part of being a leader in the renewable power industry, we feel it is of utmost importance to work together with the communities where we plan to operate. We have forged strong relationships with First Nations partners and work hard to provide accurate, fact-based information and build trust within the communities where we have projects. Are we perfect in this work? Not always, and we own these mistakes, strive to make it
right and learn from them.
Looking forward to 2014, we have a lot to do – with seven projects under construction – and we are just getting started. Here are some things we are excited about in 2014:
- We continue to actively target about $400 million in acquisitions of development-stage projects with PPAs.
- We continue to work on making commercial what could be Canada’s largest wind project – a project that has a 20-year PPA in place.
- We are interested in developing solar in Alberta, Canada’s sunniest province, as solar energy comes closer and closer to grid-parity.
As we near the end of the year, we have much to be thankful for: a great year at BluEarth, our family and friends, and the strong relationships we have forged. I wish all of you Happy Holidays and, of course, a Happy BluYear!