The Royal Bank of Canada has appointed Renewables Consulting Group (RCG), a specialized expert services firm that supports the global renewable energy sector, as its independent engineer on two Alberta pre-construction solar projects owned by BluEarth Renewables.
The firm is currently providing technical due diligence (TDD) services on the Yellow Lake and Burdett solar projects and is set to continue to act as lender’s IE to support the financing process through construction to operations.
“We are delighted to be working on this mandate and proud to support renewable energy development in Alberta,” says Matthew Irvine, director at RCG. “Alberta’s solar market is blossoming and it is fantastic to see the debt financing market active again after a challenging few years across Canada. Through our pragmatic approach to technical advisory, we will play a small part in bringing this generation capacity to the market.”
Recently, the Royal Bank of Canada announced that it was the first Canadian bank to sign a long-term renewable energy power purchase agreement (PPA) for the projects. As was previously announced, Bullfrog Power is also a corporate off-taker on the project. Located in southeast Alberta, together the projects total nearly 40 MW.
RCG’s scope of work includes review of the technical, commercial and environmental aspects of the projects, including review of energy yield estimates and electrical and civil design. The project is being led out of RCG’s Vancouver office, part of the firm’s strong local presence in North America, supporting technical advisory clients.