If I could describe 2014 in one word, then it would be extraordinary. With $600 million of projects acquired and developed throughout 2013, the pieces were set in place for us to build. And build we did. These are some accomplishments we are most proud of this year:
- Began construction on our 58 megawatt (MW) Bow Lake Wind Project in Ontario. This project, in partnership with Batchewana First Nation, has a 20-year power purchase agreement (PPA) and is expected to be operational in 2015.
- Began construction on our 15 MW Culliton Creek Hydro Project in B.C. that has a 30-year PPA and is expected to be operational in 2015
- Achieved commercial operations on 28 of 70 MW of solar projects in Ontario; all with 20-year PPAs
- Raised $80 million of new equity to execute on our plan to have $1 billion of capital operating by 2017
- Launched our Aboriginal Clean Energy Scholarship, and awarded the inaugural awards to two impressive students
- Recognized as innovators in our industry by Clean Energy Canada and Alberta Venture Magazine
- Continued to build our incredible team of innovative, persistent, caring and passionate leaders – today we are 37 of the most successful and experienced people in our industry
By the end of 2015 we expect to have $650 million of high quality, long-term contracted renewable energy facilities in operation and to be on track to have $1 billion of spinning assets by 2017; in itself, a great feat. Extraordinary, given we opened our doors only four short years ago.
And we still have much to do. We want to be the living, breathing example of sustainability, and that people, planet and profit can be successfully integrated. One does not have to be sacrificed for the other and, in fact, a company will thrive by being sustainable.
Here are a few things we are looking forward to in 2015:
- Actively targeting about $700 million in new acquisitions of development-stage projects with PPAs or clear line of site to PPAs
- Completing our current construction projects
- Starting construction on a new wind project in Alberta
As we approach the end of 2014 and the beginning of 2015, we are grateful for the strong relationships that we have formed, the opportunities we have been provided, the wonderful team we are so lucky to work with, and the support we have from our loved ones and business partners as we continue to build a great company with the power to change the future.
Have a joyous holiday season and, as always, a very Happy BluYear!
Kent Brown, President & CEO