Investment Decision On First Phase Of Saamis Solar Expected By Year’s End

A computer generated aerial image of the 325 MW Saamis Solar Project looking north from the Parkview Drive extension. (DP Energy)

The city is continuing to move forward with the Saamis Solar Project, awarding a contract to provide options to maximize value of the project.

BowMont Capital and Advisory Ltd. was awarded the contract for $32,500 last month following the city issuing a tender for consulting services to provide advice on financing and structing the 325 MW solar project.

Deliverables of the tender included evaluation of whether the city should retain the full project or just develop the proposed first 75 MW phase and sell the remaining part of the solar farm. The tender also calls for evaluation of the potential for co-investors in the project – both for the 75 MW first phase and full project buildout. Economic modeling along with reviewing the potential of investment tax credits rounds out the tender’s objectives.

BowMont is no stranger to solar projects in the region with the company’s website listing projects in Suffield, Jenner, Hays and Tilley as part of its portfolio.

The city obtained development rights for the 325 MW project from DP Energy earlier this year and is currently undertaking preliminary engineering to determine optimal locations for the first 75 MW phase.

Contracted work will be part of the final investment decision expected sometime between October and December this year.