GIP Announces Receipt of AUC Approval to Construct & Operate Cogeneration Facility

Source: www.gulfoilandgas.com 7/18/2023, Location: North America

Green Impact Partners Inc. ("GIP" or the "Company") is pleased to announce it has received approval from the Alberta Utilities Commission ("AUC") to construct and operate a 30-MW natural gas-fired cogeneration facility for the Future Energy Park. The cogeneration plant will provide high efficiency steam and electricity to the biofuels facility as part of its integrated operations philosophy.

"We are pleased to receive AUC approval to construct and operate the cogeneration plant for the Future Energy Park, marking yet another significant milestone for the project," said Jesse Douglas, Chief Executive Officer. "This progress is an important step forward in advancing the project towards the start of construction. I also want to acknowledge and thank our regulatory, engineering and development teams for their diligent efforts in making this significant accomplishment possible."

The Future Energy Park is an innovative, biofuels project which is forging a new path between Alberta's energy and agriculture sectors. The project represents an approximate $1.2 billion investment in Alberta and the City of Calgary. Once operational, the facility is expected to produce approximately 35 million MMBtu per year of renewable natural gas, over 300 million litres of ethanol annually, approximately 235,000 tonnes of cattle feed annually, and create carbon credits.

Jesse Douglas added, "Green Impact Partners is also working with the City of Calgary to secure municipal permits and we anticipate starting on-site earthworks activities in the coming weeks."

About the Future Energy Park Project
The project will create approximately 800 jobs over 24 months during construction and 50 jobs during operations.
Once operational, the Future Energy Park will provide annual new, direct revenue of over $150 million to rural wheat producers and income and property tax to the City of Calgary and Province of Alberta.
Green Impact Partners is using local and regional engineering, construction, and environmental firms for the project.
The facility is being sited in an industrial area in southeast Calgary and will be constructed and operated on 52 acres of land which has been designated for industrial use.
With a carbon intensity score of -20, the Future Energy Park is expected to be North America's largest carbon negative energy facility.


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