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 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. Postmedia Network Inc.
The deal breaks down to $485 million for a 50 per cent stake in Future Energy Park in southeast Calgary and Iowa RNG, a smaller renewable natural gas project in Iowa.Article contentAn 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.
“We are excited to partner with GIP to deliver projects that align with progressive government policy in the U.S. and Canada,” Tom O’Shaughnessy of Amber Infrastructure said in a news 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.”Article content
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