Capital Power announces a 15-year renewable energy agreement with Shaw Communications

EDMONTON, Alberta, Jan. 17, 2023 (GLOBE NEWSWIRE) — Capital Power Corporation (TSX: CPX) (“Capital Power”) has entered into a 15-year agreement with Shaw Communications Inc., a leading Canadian connectivity company, for the purchase of approximately 30 megawatts (MW) of renewable energy from the recently completed Clydesdale Solar (75 MW) facility beginning on the facility’s commercial operation date of December 13, 2022. The renewable energy is bundled with 100% of the associated greenhouse gas offsets and environmental attributes generated from Shaw Communication’s share of the facility’s generation output. Combined with a previously announced virtual power purchase agreement, the Clydesdale Solar facility’s capacity is now approximately 90% contracted over a 15-year term.

“We’re excited to provide Shaw Communications with renewable power for their operations in Alberta,” said Chris Kopecky, Senior Vice President, Chief Legal, Development and Commercial Officer of Capital Power. “As we grow our renewables portfolio, we’re committed to developing customized solutions that empower our partners to capitalize on the benefits of clean energy. We’re proud to help expand the renewable energy capacity available to power Alberta’s economy.”

“Shaw is committed to efficiency and innovation that supports the transition to a low-carbon economy,” said Zoran Stakic, Chief Operating Officer and CTO, Shaw Communications Inc. “Our new agreement with Capital Power will contribute to more environmentally friendly operations and a brighter, cleaner, and more sustainable future.”

The construction of Clydesdale Solar was completed on schedule. Located on privately owned land in the Municipal District of Taber, Alberta, the 75-MW facility is Capital Power’s second solar facility to achieve commercial operations in Canada. The Clydesdale Solar facility is projected to generate approximately 170 GWh of renewable energy in the first year of operations. This renewable energy agreement represents a total carbon displacement of approximately 335,400 tCO₂e, which is equivalent to taking a total of more than 102,900 cars off the road.

About Shaw Communications
Shaw is a leading Canadian connectivity company. The Wireline division consists of Consumer and Business services. Consumer serves residential customers with broadband Internet, video and digital phone. Business provides business customers with Internet, data, WiFi, digital phone, and video services. The Wireless division provides wireless voice and LTE data services.

Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX – SJR.B, NYSE – SJR, and TSXV – SJR.A). For more information, visit www.shaw.ca.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alberta. We build, own, and operate high-quality, utility-scale generation facilities that include renewables and thermal. We have also made significant investments in carbon capture and utilization to reduce carbon impacts. Capital Power owns approximately 7,500 MW of power generation capacity at 29 facilities across North America. Projects in advanced development include approximately 310 MW of owned renewable generation capacity in North Carolina and Alberta and 512 MW of incremental natural gas combined cycle capacity, from the repowering of Genesee 1 and 2 in Alberta.

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