The Travers Solar Project in Vulcan County got a huge monetary boost from foreign investors.

Builders, Greengate Power Corporation announced on Friday, February 3 that they successfully secured an approximate $500 million investment in their project from Copenhagen Infrastructure Partners (CIP).

Their agreement will further fund the development and construction of Travers Solar Project, which upon completion, should be Canada's largest operating solar energy project.

The Farm is expected to generate 400 MWac, which would provide renewable electricity for more than 100,000 homes in the Province.

Along with renewable energy, the project is expected to bring in over 500 full time positions to the area during construction.

Greengate Power Corp. CEO Dan Balaban says they're excited to partner with CIP in their first Canadian investment.

“Greengate is excited to be working with CIP, the world’s largest renewable energy focused infrastructure fund, to bring this world-class project through to completion,” says Balaban “This continues Greengate’s successful track record of developing and securing investment for renewable energy projects of unprecedented scale that deliver strong investor returns, and we are proud to be part of creating subsidy-free, market-based solutions that significantly improve Alberta’s environmental performance.”

It's also a positive sign for Alberta's economic outlook according to CIP Senior Partner, Christian Skakkebaek.

“CIP is pleased to continue growing its North American renewable energy portfolio through our investment in Travers Solar, CIP’s first investment in Canada. Alberta is an attractive market for investment, and we look forward to working with Greengate, one of Canada’s leading renewable energy developers, to bring Travers Solar online.”

Construction is slated to begin Spring of 2020, once the project meets all approval and administrative requirements set out by Vulcan County and the Provincial Government. 

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