The joint venture is currently scoping a development pipeline of around 1.0 GWp, including the 200 MWp Estuary project in the Alberta province which is expected to reach ready-to-build status by the end of 2022. Negotiations for the sale of a 75% stake of the Estuary project are already in advanced stages.
Further to this, Greencells has acquired a 25% stake in a 258 MWp solar project in the province of Alberta. It reached ready-to-build status in 2022 and is expected to be commercially operational before the end of 2023. In total, Greencells has now significantly expanded its development pipeline in Canada to 1.3 GWp.
“Greencells Group’s development business has traditionally focused on OECD countries with high credit ratings, a reliable regulatory framework, and stable political conditions. Therefore, we are also consistently expanding the development pipeline in Canada – complementing the strong European business,” explains Andreas Hoffmann, CEO of Greencells GmbH. “We are also benefiting from the encouraging development of the Canadian photovoltaic market, which grew by 13.6% or 288 MWp in 2021, of which 250 MWp is accounted for by the province of Alberta alone. Newly installed photovoltaic capacity of at least 1,000 MWp is expected for 2022. We are therefore very confident that we will be able to benefit from these attractive framework conditions and thus continue our dynamic growth in Canada as well.”
