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Spring Coulee Solar Project by Evolugen Begins Commercial Operations

Press Release

Feb 26, 2024

GATINEAU, QC,- Evolugen, the Canadian renewable energy platform of Brookfield, is pleased to announce that commercial operations have begun on Spring Coulee Solar Project (the Project), which is the first utility solar facility in Alberta to be operated and managed by Evolugen.

The 42 MWdc solar farm, located northeast of Cardston, Alberta, is expected to generate close to 70 GWh of renewable electricity annually, the equivalent of powering approximately 9,850 Alberta homes per year. Building on Evolugen’s track record of development expertise, in collaboration with our partners, the Project was completed on time and on budget following groundbreaking in April 2023.

Scotiabank will purchase electricity and associated environmental attributes from the Project through the 15-year power purchase agreement announced in February 2022 as part of its approach to decarbonizing its operations and supporting clients in the transition to a low-carbon economy.

PCL Solar, a highly reputable and experienced contractor in the renewable energy sector, acted as the prime contractor for the Project. PCL expertly managed the engineering, procurement and construction of the project, overseeing a peak workforce of 200 employees and contractors in alignment with Evolugen’s commitment to health and safety and handing over a high-quality project.

“We are excited to see our first solar project in Southern Alberta come to fruition,” said Josée Guibord, CEO of Evolugen. “Spring Coulee Solar Project demonstrates our capacity to deliver high quality renewable energy solutions that benefit our partners, communities, and the environment. We’re also proud that these benefits are inclusive of Indigenous communities, with approximately 15% of the Spring Coulee construction workforce being Indigenous.”

“We are pleased to celebrate the successful start up of Evolugen’s Spring Coulee project. This facility enables Scotiabank to attain our goal to have 100% emission-free electricity in Canada,” says Darren Da Silva, Senior Vice-President of Real Estate at Scotiabank. “We appreciate the collaborative partnership with Evolugen to meet our demand for renewable electricity for our operations and reduce our emissions footprint.”

“We are proud to have delivered this solar project safely on time and on budget,” said Andrew Moles, District Manager of PCL Solar. “It’s always a thrill to see our team’s expertise and hard work on the completed project pay off with commercial operations taking over and to see the facility ramp up and operating.”

Following the successful completion of the Spring Coulee Solar Project Evolugen looks to continue increasing its generation capacity in Canada through its extensive pipeline of solar, wind, hydro and battery storage projects in development across the country.

About Brookfield

Brookfield Asset Management (NYSE: BAM) (TSX: BAM) is a leading global alternative asset manager with over $850 billion of assets under management. Brookfield invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

SOURCE Evolugen by Brookfield Renewable

For further information: Media Contact: Mike Peters, Director of Public Affairs, Mike.peters@evolugen.com, 403-483-8784

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