In Canada, Green Impact Partners Inc. announced a partnership with Carbon Clean Energy Inc. (“CCE”) and PCL Constructors Inc. (“PCL”) to develop a large-scale biofuel facility located in Calgary, Alberta. The project, once operational, is expected to be carbon negative and will produce annually over 300 million liters of ethanol, up to 2.5 million Btu of renewable natural gas and 2.3 million metric tons of carbon offset credits. A final investment decision to proceed to construction is expected later this year or early 2022.
The Project has an anticipated capital cost of C$475 million and once operational, will generate approximately C$140 million in annual EBITDA. GIP is closing on a substantive development investment in the project and anticipates holding a 50% interest. ATB Capital Markets is the financial advisor for the project.