Varme Energy has forged a partnership with Gibson Energy and Canada Growth Fund to propel their waste-to-energy project in the Edmonton region. Situated on Gibson Energy’s land in Strathcona County, within Alberta’s Industrial Heartland, the project receives financial backing from the Canada Growth Fund.
A groundbreaking aspect of this partnership is a carbon price assurance agreement with the Canada Growth Fund, securing a Carbon Credit Offtake to purchase 200,000 tonnes annually for 15 years, initially priced at $85 per tonne. This agreement, one of Canada’s largest, and the first of its kind in the Edmonton region, allows Varme Energy to resell up to half of the generated carbon credits, fostering sustainability and attracting private investment into carbon capture projects.
Varme Energy, a subsidiary of Green Transition Holdings, expanded into Edmonton in 2022, signing a 15-year agreement with the City of Edmonton for 150,000 tonnes of municipal waste. The collaboration with Canada Growth Fund and Gibson Energy is a pivotal step towards Final Investment Decision (FID), bolstering the project’s success prospects.
With FID anticipated within a year, the project aims for operation by late 2027, creating over 250 jobs during the construction phase and sustaining 30 full-time operational roles thereafter.
