RBC, Shopify to buy power from Berkshire’s Canadian wind project

Bloomberg

Royal Bank of Canada, Shopify Inc. and Bullfrog Power Inc. have agreed to buy a combined 90,000 megawatt-hours of energy a year from a Berkshire Hathaway Inc. wind farm in Canada.
The firms are purchasing the power from Berkshire Hathaway Energy Canada’s 130-megawatt Rattlesnake Ridge Wind Power Project in southeast Alberta, according to a release Wednesday. The project, consisting of 26 wind turbines, is expected to be operating by May.
The agreement advances Royal Bank’s plan to source all of its energy from renewable and non-emitting sources by 2025, and the commitment to purchase a fixed amount of power from the project helps ensure its viability, said Julia-Maria Becker, senior manager for sustainable enterprise operations. Royal Bank didn’t disclose the fixed price at which it’s buying the power.
“With signing a power purchase agreement, we take on some of the risk of the renewable-energy project,” Becker said in an interview. “Therefore, we make the project more attractive in the market.” Royal Bank in 2020 signed an agreement to buy electricity from a solar farm, helping the firm get about 84% of its power from renewable sources.