Cenovus Energy’s PPA with Cold Lake Solar Power Project

Osler, Hoskin & Harcourt LLP advised Cenovus in its purchase of renewable energy from the Cold Lake solar project.

On July 22, 2021, Cenovus Energy (TSE:CVE) has signed an 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.

The Osler, Hoskin & Harcourt team consisted of Paula Olexiuk (Picture, Energy) and Dana Saric (Financial Services).

 

Involved fees earner: Paula Olexiuk – Osler Hoskin & Harcourt; Dana Saric – Osler Hoskin & Harcourt;

Law Firms: Osler Hoskin & Harcourt;

Clients: Cenovus Energy Inc.;

Author: Martina Bellini