• Annual supply of 79.9 gigawatt-hours (GWh) of renewable energy for Lafarge's Exshaw cement plant
  • Located near the Alberta-Saskatchewan border, ATCO's 38.5 MW Empress Solar project scheduled to begin commercial operations in October 2023

CALGARY, AB, Oct. 5, 2023 /CNW/ - Canadian Utilities Limited (TSX: CU, CU.X)

Lafarge Canada Inc. and ATCO Announce 12.5-Year Solar Virtual Power Purchase Agreement (CNW Group/ATCO Ltd.)

Lafarge Canada Inc., an industry leader in sustainable building solutions, and ATCO Ltd., through its investment in Canadian Utilities Limited, today announced that they have entered into a 12.5-year virtual power purchase agreement (VPPA). Under this agreement, Lafarge's Exshaw cement plant will receive one hundred percent of the solar energy produced by the 38.5-megawatt Empress Solar project, meeting 34 per cent of the plant's power requirements through 2036.

"We're continually assessing ways we can reduce our environmental impact while actively pursuing sustainable solutions within our operations," said Brad Kohl, president and CEO of Lafarge Canada (West). "Our collaboration with ATCO underscores our commitment to adopting renewable energy at our plants and sites, which is key to reducing our reliance on fossil fuels."

Lafarge's continued expansion into renewable energy in Alberta aligns with the company's broader strategy, Accelerating Green Growth while emphasizing its ongoing investments to lower the carbon footprint of its operations and scope 2 emissions. Notably, Lafarge's Exshaw cement plant has now committed to power purchase agreements for both wind and solar energy, setting an industry precedent.

"This agreement represents the strides we are making to support our customers in meeting their clean energy goals," said Bob Myles, Chief Operating Officer, ATCO EnPower. "We are proud to be at the forefront of the energy transition, and in a position to provide solutions to customers like Lafarge in reducing their carbon emissions."

Under the agreement, Lafarge will offtake 100 per cent of the power generated from the Empress Solar project, which is scheduled to commence commercial operations in October 2023, marking a step towards a greener, more sustainable energy landscape in Alberta. The Empress Solar project is expected to generate enough renewable energy to offset approximately 43,000 tonnes of carbon per year. Once operational, the facility will further drive ATCO´s commitment to meeting ATCO's 2030 ESG target of owning, developing, or managing over 1,000 MW of renewable energy.

About Canadian Utilities

Canadian Utilities Limited and its subsidiary and affiliate companies have approximately 8,000 employees and assets of $23 billion. Canadian Utilities, an ATCO company, is a diversified global energy infrastructure corporation delivering essential services and innovative business solutions in Utilities (electricity and natural gas transmission and distribution, and international operations); Energy Infrastructure (energy storage, energy generation, industrial water solutions, and clean fuels); and Retail Energy (electricity and natural gas retail sales, and whole-home solutions). More information can be found at www.canadianutilities.com.

About Lafarge Canada Inc.

Lafarge Canada is a subsidiary of Holcim, a global leader in innovative and sustainable building solutions. Driven by its purpose to build progress for people and the planet, its 60,000 employees are on a mission to decarbonize building, while improving living standards for all. The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet. With its innovative systems, from Elevate's roofing to PRB's insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of its strategy, Holcim is becoming a net-zero company with 1.5°C targets validated by SBTi. www.lafarge.ca

Contacts

Lafarge Canada Inc.
Kristen Marston
Communications and Marketing Manager, Western Canada
kristen.marston@lafarge.com

ATCO
Colin Jackson -- Investor & Analyst Inquiries
Senior Vice President, Finance, Treasury & Sustainability
Colin.Jackson@atco.com
403 808 2636


Kurt Kadatz -- Media Inquiries
Director, Corporate Communications
Kurt.Kadatz@atco.com
587 228 4571

Forward-Looking Information Advisory

Certain statements contained in this news release constitute forward-looking information. In particular, forward-looking information in this news release includes references to: anticipated benefits to be generated by the Empress solar project and the virtual power purchase agreement relating thereto; the anticipated timing of commercial operation of the Empress solar project; Lafarge's continued expansion into renewable energy in Alberta and the alignment with its strategy, Accelerating Green Growth; ATCO's commitment to being at the forefront of the energy transition; the renewable energy generation output expected from the Empress solar project and the resulting contribution to Lafarge's Exshaw cement plant power requirements through 2036 under the agreement and anticipated greenhouse gas emission reductions; ATCO's goal of owning, developing or managing more than 1,000 MW of renewable energy and  achieving its 2023 ESG targets.

While it is believed that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are being made and processes used to prepare the information, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By their nature these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things: the development and performance of technology and technological innovations; collaboration with business partners, regulatory and environmental groups; the performance of assets and equipment; and the ability to meet current project schedules.

Actual results could differ materially from those anticipated in the forward-looking information as a result of, among other things: risks inherent in the performance of assets; applicable laws, regulations and government policies; regulatory decisions; prevailing market and economic conditions; credit risk; the availability and cost of labour, materials, services, and infrastructure; the development and execution of projects; prices of electricity, natural gas, natural gas liquids, and renewable energy; the development and performance of technology and new energy efficient products, services, and programs including but not limited to the use of zero-emission and renewable fuels, carbon capture, and storage, electrification of equipment powered by zero-emission energy sources and utilization and availability of carbon offsets; the termination or breach of contracts by contract counterparties; the occurrence of unexpected events such as fires, severe weather conditions, explosions, blowouts, equipment failures, transportation incidents, and other accidents or similar events; and other risk factors, many of which are beyond control. Due to the interdependencies and correlation of these factors, the impact of any one material assumption or risk on a forward-looking statement cannot be determined with certainty.

Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that ATCO faces, see "Business Risks and Risk Management" in ATCO's Management's Discussion and Analysis for the year ended December 31, 2022.

Forward-looking information contained in this news release represents expectations as of the date hereof, which may change after such date. There is no intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE ATCO Ltd.

Copyright 2023 Canada NewsWire

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