Concord Pacific, a Canadian real estate developer, has achieved a significant milestone by exceeding 500 megawatts (MW) in clean energy generation through its subsidiary, Concord Green Energy. The company operates wind, solar, and hydro projects across British Columbia, Alberta, Saskatchewan, Ontario, and Quebec, generating enough electricity to power approximately 400,000 homes. Concord Pacific, under CEO Terry Hui, has diversified into energy infrastructure, with its portfolio including two hydroelectric projects in B.C., three solar projects in Alberta, one wind project in Saskatchewan, and eight solar and four wind projects in Ontario.
In 2024, Concord Green Energy added 120 MW of new wind capacity in Saskatchewan, with two additional solar projects currently under construction in Ontario. The company's future plans include a target of 1 gigawatt (GW) of renewable energy capacity within the next five years. This expansion is supported by Concord's strong balance sheet from its real estate earnings, as well as tax-equity partnerships and debt financing.
Concord's diversified approach, utilizing wind, solar, and run-of-river hydro, helps to stabilize electricity supply across different weather patterns and contributes to Canada's goal of achieving 100% zero-emission electricity by 2035. The company's projects directly displace fossil-fuel generation, with all output contracted to provincial utilities. While not primarily marketing itself as an energy company, Concord's renewable division is becoming a substantial contributor to Canada's electricity grid.
Looking ahead, Concord Pacific has a pipeline of over 500 MW in renewable energy projects. Notably, the company broke ground on a 106 MW solar photovoltaic portfolio near Lethbridge, Alberta, consisting of three 35 MW projects. This project, in collaboration with GP Joule North America and the Athabasca Chipewyan First Nation, is expected to be completed by March 2022. The company is also exploring opportunities to power data centers with its renewable assets, similar to trends seen with companies like Soluna, which acquired a 150 MW wind farm to power its Project Dorothy AI campus, and TransAlta's deal to supply power to a new data center in Alberta.
