Under the partnership, Low Carbon and NU-E Corp will initially develop an existing 600MW pipeline of solar PV projects in the Canadian province of Alberta
Low Carbon expands operations in the North American renewables market via a joint venture (JV) formed with NU-E Corp. (Credit: Low Carbon)
Renewable energy company Low Carbon has expanded its operations in the North American renewables market. The company expanded its operations through a joint venture (JV) formed with NU-E Corp, a developer of large-scale renewable energy projects.
The primary goal of this collaboration is to bring 1.2GW of solar PV, onshore wind, and battery storage projects online in Canada by the end of the decade.
As part of their joint efforts, Low Carbon and NU-E Corp will kickstart the development process by focusing on an existing 600MW pipeline of solar PV projects in Alberta.
This pipeline includes a diverse mix of projects in different stages of development. The first project from this pipeline is expected to achieve Commercial Operation Date (COD) in 2024.
Moreover, the partnership between Low Carbon and NU-E Corp holds immense potential to grow beyond the initial capacity. They are poised to expand their capabilities to handle multi-gigawatt projects involving various renewable energy technologies across Canada.
The formation of the JV to develop greenfield renewable projects in Canada marks a crucial milestone for Low Carbon’s aspirations in the North American market.
The announcement aligns with Low Carbon’s strategic objective to achieve 20GW of new renewable energy capacity by the year 2030.
Recently, MassMutual made a capital commitment of £400m to support Low Carbon’s pipeline of renewable energy projects until 2025.
Low Carbon founder and chief executive Roy Bedlow said: “We are delighted to be partnering with NU-E Corp to help drive our renewables expansion in North America.
“With more than a decade of experience creating large-scale renewables in the UK and Europe, the North American market represents a significant opportunity for the next stage of our growth as we look to accelerate the deployment of renewable energy on a global scale.”
NU-E Corp chief operating officer Brock Stewart said: “This collaboration will allow us to leverage our respective strengths and resources to accelerate the development of NU-E Corp’s rapidly growing project portfolio. Together, we will make a significant contribution to diversifying Canada’s energy generation mix and achieving our shared vision of a net-zero future.”