Key Takeaways
- Empire Power Corp (EPC.V) announced a 20-year PPA with ATCO Electric for its 120 MW Lakeview Solar project.
- The contracted price of C$68.50/MWh provides predictable revenue through 2046.
- Total project cost is estimated at C$142M; EPC plans project financing with 70% debt / 30% equity.
- The stock rose 34% on the announcement to C$0.62; pre-announcement market cap was C$18M.
Empire Power Corp has achieved the milestone that every junior renewable energy developer is working toward: a bankable, long-term power purchase agreement with a creditworthy counterparty. The 20-year PPA with ATCO Electric, announced Tuesday, transforms the Lakeview Solar project from a speculative development asset into a financeable infrastructure project with predictable cash flows through 2046.
The Lakeview Solar Project
Lakeview Solar is located near Lethbridge, Alberta one of the highest solar irradiance regions in Canada. The project has been in development since 2021, having secured its Alberta Utilities Commission permit in 2023 and interconnection agreement in 2024. The final piece a power off-taker has now been secured through the ATCO PPA.
| Metric | Detail |
|---|---|
| Capacity | 120 MW DC / 100 MW AC |
| Annual Generation (est.) | 192,000 MWh |
| PPA Price | C$68.50/MWh (fixed, 20-year) |
| Annual Revenue (est.) | C$13.1M |
| Project Capex | C$142M |
| Target IRR (equity) | 12–14% |
| Construction Start (target) | Q2 2027 |