Monat: Dezember 2022

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Neoen Breaks Ground on Fox Coulee Solar Farm: A Step Towards Carbon Neutrality in Canada

Neoen Breaks Ground on Fox Coulee Solar Farm: A Step Towards Carbon Neutrality in Canada

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Neoen has officially begun the construction of its first Canadian asset, the Fox Coulee solar farm in Alberta’s Starland County. The project is 100% owned by Neoen and has been contracted to Goldbeck Solar for completion. With a capacity of 93MWp, the solar farm will be connected to ATCO Electric’s distribution system at 24.5kV and is expected to be operational by the first quarter of 2024.The Fox Coulee solar farm is anticipated to generate enough electricity to power over 20,000 homes while preventing the emission of around 70,000 tonnes of CO2 annually. Neoen intends to sell a portion of this energy through power purchase agreements as well as taking advantage of Alberta’s deregulated electricity market and carbon taxation policy for the remainder. This project will help both the Province of Alberta and federal government reach their goal of achieving carbon neutrality by 2035. Emmanuel Pujol, Regional Director for Neoen in the Americas expressed his congratulations on behalf of his team for making this project a reality just one year after establishing their local team in Canada. Xavier Barbaro, Chairman and CEO of Neoen also shared his excitement at breaking ground on Fox Coulee and highlighted Neoen’s commitment to becoming an active player in delivering on Canada’s climate and energy targets.

Summary

  • Neoen has begun construction of its first asset in Canada, the Fox Coulee solar farm, located in Alberta, Starland County.
  • The solar farm is 100% owned by Neoen and the turnkey contract for its construction has been awarded to Goldbeck Solar.
  • The commissioning of Fox Coulee is scheduled for the first quarter of 2024 and when it enters service, it will prevent the emission of around 70,000 tonnes of CO2 a year and is expected to generate enough electricity to power over 20,000 homes.

What is the planned timeline for the commissioning of Fox Coulee solar farm?

The planned timeline for the commissioning of Fox Coulee solar farm is the first quarter of 2024.
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Picture source: Matt Thomason

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Varma Mutual Pension Insurance Co. Takes Action to Protect Human Rights in Investments and Operations

Varma Mutual Pension Insurance Co. Takes Action to Protect Human Rights in Investments and Operations

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On Thursday, Varma Mutual Pension Insurance Co. in Helsinki announced that it will be incorporating human rights as a sustainability risk into its investments, operations and supply chain. After assessing the potential human rights risks and impacts of its activities, the company established principles to address any violations that could affect investments. Varma screens for norm violations in private credit investments and classifies them into three categories: blacklisted investments, investees engaging in an engagement process, and investees on an observation list. Depending on the category, Varma uses different methods of engagement to address international human rights agreements. This year alone, they had 67 active engagements with investors or independently to tackle violations. Varma also requires personnel and suppliers to demonstrate controls in place to ensure that human rights are respected throughout their operations and supply chain if requested. By monitoring compliance with national laws and international agreements on human rights, Varma is able to identify sustainability risks more effectively.

Summary

  • Varma Mutual Pension Insurance Co. is incorporating human rights as sustainability risks in its investments, operations and supply chain.
  • Varma monitors investments for possible human rights violations by screening for norm violations.
  • Varma’s guidelines on human rights risks and impacts extend to its personnel and suppliers.

What measures does Varma take to ensure that human rights are respected in its operations and supply chain?

Varma monitors investments, engages with investees, and requires personnel and suppliers to demonstrate controls in place to ensure that human rights are respected in its operations and supply chain.
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Picture source: Wasa Crispbread