British investment company Low Carbon has announced a joint venture (JV) partnership with Canadian renewable company NU-E Power to create 1.2GW of renewable energy and battery storage projects in Canada.

The JV will begin with the deployment of an initial 600MW collection of solar photovoltaic projects around the state of Alberta. These will include early, mid and late-stage developments, with the most complete ones set to commence operation in 2024.

After completing these, the JV plans to double that output to a combined 1.2GW of solar, onshore wind and battery storage projects across Canada by 2030. This ties in with Low Carbon’s plans to contribute to creating a combined 20GW of renewable energy projects by 2030.

NU-E CEO Brock Stewart stated: “This collaboration will allow us to leverage our respective strengths and resources to accelerate the development of NU-E Corp’s rapidly growing project portfolio.

“Together, we will make a significant contribution to diversifying Canada’s energy generation mix and achieving our shared vision of a net-zero future,” he added.

Solar PV generation accounted for 3% of Canada’s energy mix in 2021. By 2035, however, it could represent as much as 8%. Canada is expected to add 22.28GW of new renewable energy capacity over this time frame, 10.27GW coming from solar PV installations. As such, the JV between Low Carbon and NU-E positions the two to contribute a large share to Canada’s renewable energy transition.

Ed Shelton, managing director of North American investments at Low Carbon, said: “In addition to this being a first-of-a-kind partnership for Low Carbon in North America, the JV with NU-E Corp ensures we are well positioned to act on the new investment incentives for Canadian renewable energy projects.”