Ontario Government creates more local clean energy jobs
In support of Ontario’s five-year Open Ontario Plan for strengthening the local economy and generating clean energy, a project to develop the province’s first major hydroelectric plant in 40 years is in the works. The project will supply clean power to residents, as well as create up to 800 construction jobs.
Currently, the Ontario Power Generation (OPG) Lower Mattagami River Hydroelectric Project is being developed, with 300 people already on site. The project is expected to take approximately five years to complete, and will add around 440 megawatts of clean, renewable power to the province’s energy supply. Upon completion, the project will generate enough electricity each year to power over 300,000 homes—close to double the population of Greater Sudbury.
"Creating new economic opportunities for Northern families and Aboriginal communities is an important part of our Open Ontario plan. The Lower Mattagami River Hydroelectric Project will be a huge boost for the North and will provide clean, reliable and cost-effective power to our families and businesses throughout Ontario," said Brad Duguid, Minister of Energy.
"It's very exciting to see the Lower Mattagami Project underway as it will create renewable energy that's available when people need it. The project also builds on the legacy and contributions of publicly-owned power in Ontario. "We're especially proud to have the Moose Cree First Nation as our partners as it marks a new way of doing business in the north," said Tom Mitchell, OPG President and CEO.
"The Moose Cree First Nation's partnership with Ontario Power Generation on the Lower Mattagami Project is the way of the future. The people of Ontario will benefit from secure, green, healthy, and abundant power to fuel our economies and light and warm our homes," said Chief Norman Hardisty, Moose Cree First Nation.
bp buys 9GW of solar projects from 7X Energy for $220m
bp will pay 7X Energy $220 million for the projects and 1GW of 'safe harbour' equipment and expects the acquisition to complete in 30 days. The projects, spread across 12 states - with the largest portfolios in Texas (ERCOT) and MidWest (PJM) - are expected to meet bp’s low carbon investment criteria, generating returns of at least 8-10%.
Assets with a combined generating capacity of 2.2GW are expected to reach final investment decision (FID) by 2025, with the remaining progressing by 2030. Once developed, these projects will have the capacity to generate enough clean energy to power around 1.7 million US homes. The development is also expected to support thousands of jobs through construction.
The acquisition represents a significant step towards bp’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030.
The deal will also grow bp’s renewables pipeline from 14GW to 23GW. The assets will be developed through bp’s 50-50 solar joint venture Lightsource bp, which will apply its capabilities to accelerate bp’s renewables targets.
Dev Sanyal, bp executive vice president of gas and low carbon energy, said: "With this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way. It brings us 9GW of high-quality solar projects in markets where we can create integrated renewable energy offers through our trading and customer franchises."
More than half of new US utility-scale solar PV capacity is planned for four states this year, with Texas comfortably the largest (28%), followed by Nevada (9%), California (9%), and North Carolina (7%), according to the US Energy Information Administration. Solar will account for 39% of all new US electricity generation capacity in 2021, surpassing wind for the first time, according to ResearchAndMarkets.com.