Concord Pacific is making a major expansion into renewable energy with the acquisition of Saskatchewan’s largest operating wind project.
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The Vancouver-based company’s renewable energy division, Concord Green Energy, has acquired the Golden South Wind Project near Assiniboia, Saskatchewan. The utility-scale facility includes 50 wind turbines and has 210 megawatts of installed generation capacity, making it the province’s largest operating wind project by both turbine count and installed capacity.
The acquisition grows Concord Green Energy’s operating renewable energy portfolio to approximately 543 megawatts across Canada. In addition, the company’s operating assets and projects under development now represent more than one gigawatt of renewable energy capacity nationwide.
“An important step” for Concord Green Energy, says Terry Hui
Terry Hui, president and CEO of Concord Pacific Group, described the acquisition as an important step in building Concord Green Energy into a larger Canadian renewable energy business.
“Canada is entering a period of significant investment in the power and infrastructure needed to support economic growth, and the federal government’s renewed focus on green, reliable energy creates a strong environment for long-term investment,” said Hui. “Golden South adds substantial power generation to the grid today while giving us greater scale to continue investing in the renewable energy Canada will need for the future.”
While Concord Pacific is best known for developing large master-planned communities across Canada, Concord Green Energy has been steadily building a portfolio that includes wind, solar, hydroelectric generation and energy storage. The Golden South acquisition significantly increases the scale of its wind generation business while adding an established project that is already supplying electricity to Saskatchewan’s power grid.
Enough electricity to power up to 100,000 homes
Golden South began commercial operations in March 2022 and currently operates under a 25-year power purchase agreement with SaskPower. The project has 210 megawatts of installed generation capacity, including 200 megawatts of contracted capacity. According to Concord, the electricity generated by Golden South is equivalent to the annual electricity needs of as many as 100,000 homes. Unlike a renewable energy project that is still awaiting construction or regulatory approval, Golden South is already operational. As a result, the acquisition immediately adds substantial renewable power generation to Concord Green Energy’s portfolio.
Potentia Renewables, the project’s previous owner, will continue managing Golden South’s day-to-day operations. This arrangement is expected to provide continuity for local landowners, SaskPower and the surrounding communities.
“Golden South has been part of Potentia’s portfolio since it began generating power in 2022, and we’re proud of what the project has delivered for Saskatchewan’s grid and for the communities in RM 72 and RM 73,” said Ben Greenhouse, CEO of Potentia Renewables. “Potentia will continue to manage day-to-day operations at Golden South, so landowners, our SaskPower partners, and the local community can expect the same team and the same commitment to safe, reliable performance going forward.”
Concord Pacific will continue supporting the surrounding community
As part of the acquisition, Concord Pacific says it plans to continue the Golden South Wind Community Benefit Fund. The fund provides support to local programs and organizations serving the Assiniboia region. Continuing the program will help maintain the project’s existing relationship with the communities surrounding the wind facility.
The acquisition also gives Concord Green Energy a larger operating platform as Canada expands and modernizes its electricity system. Demand for reliable electricity is expected to continue growing as communities expand and more sectors move toward electrification. For Concord Pacific, that connection between energy infrastructure and community growth is central to the company’s long-term approach.
As one of Canada’s largest developers of master-planned communities, Concord has spent decades planning around the infrastructure required to support growing cities. Through Concord Green Energy, the company is now increasing its investment in the renewable power infrastructure needed to support that growth.
With Golden South joining its portfolio, Concord Green Energy has approximately 543 megawatts of installed renewable generation capacity in operation. Combined with projects currently under development, its renewable energy portfolio now exceeds one gigawatt across Canada.
