Varme Energy entered into a partnership with Gibson Energy and Canada Growth Fund to advance their planned waste-to-energy project in the Edmonton region.
The agreement with Canada Growth Fund provides a carbon price assurance in the form of a Carbon Credit Offtake to purchase 200,000 tonnes per year at an initial price of USD 85 per tonne for a term of 15 years. The agreement will also allow Varme Energy to resell up to half of carbon credits generated to other corporations and brands looking to meet their own sustainability targets.
This agreement with the Canada Growth Fund and Gibson Energy represents one of the last steps to move this project toward Final Investment Decision (FID) and sends a positive signal needed for the success of this project.
The project is slated to reach Final Investment Decision within a year and be operational in late 2027. The construction phase is expected to create more than 250 job over a 2.5-year period and 30 full-time, on-going, operational jobs.
