The 600MW portfolio is made up of existing early, mid and late-stage projects that NU-E Corp is developing, the first of which is expected to be operational in 2024.
Managing director of investments North America at Low Carbon, Ed Shelton, said: “In addition to this being a first-of-a-kind partnership for Low Carbon in North America, the JV with NU-E Corp ensures we are well positioned to act on the new investment incentives for Canadian renewable energy projects. These recent incentives will help provide long-term stability for investment and open up further opportunities for renewables development in Canada that support its net-zero ambitions.”
The Alberta Utilies Commission announced a 6-month moratorium on renewable energy projects this week, as it looks to address land use concerns raised by municipalities. The Canadian Renewable Energy Association called the pause a ‘mistake’ and said that it endangered the progress of the state’s renewable energy market.
Last month Low Carbon secured a £400 million capital commitment from Massachusetts Mutual Life Insurance Company to support its solar PV development portfolio in the UK, as reported by our sister site, Current±.
