Green Impact Partners announce $545 million partnership on Future Energy Park and other projects

Jesse Douglas, CEO for GIP, announced the deal that will give Amber a 50 per cent project-level equity interest in three facilities, including the $1.2-billion Calgary project.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.

The deal breaks down to $485 million for a 50 per cent sale of Future Energy Park in southeast Calgary and Iowa RNG, a smaller renewable natural gas project in Iowa. The undefined majority of this will be for its stake in Future Energy Park.An open lot located at 84th St & 50 Ave SE. the location of a proposed renewable natural gas Ethanol plant. Green Impact Partners Inc. plans to move forward with the Future Energy Park that would produce RNG and ethanol.

GIP claims it will be the largest carbon-negative energy facility in North America, with a carbon intensity score of negative-20. Once operational, the facility is expected to produce about 3.5 million MMBtu of RNG, more than 300 million litres of ethanol, and about 235,000 tonnes of cattle feed every year.Article content

“We are excited to partner with GIP to deliver projects that align with progressive government policy in the U.S. and Canada,” said Tom O’Shaughnessy of Amber Infrastructure, in a press release. “We share a common purpose, our values are aligned, and we look forward to making an impact together through the deployment of low carbon projects at scale.”In January, GIP received land use approval from the City of Calgary, paving the way for construction to begin this spring or summer.

The project was first announced in May last year when the Calgary-based company secured a 52-acre plot in the southeast corner of the city on the border of Rocky View County at 84th Street S.E. and 50th Avenue S.E.

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