EverGen has announced the execution of a 20-year offtake agreement with FortisBC Energy Inc (FortisBC) through its wholly owned subsidiary Fraser Valley Biogas Ltd. (FVB), subject to the acceptance by the British Columbia Utilities Commission in Canada.
Under the terms of the agreement, FortisBC will purchase renewable natural gas (RNG) from FVB for injection into its natural gas system.
This agreement ensures a stable and predictable supply of RNG for FortisBC, while providing EverGen with a dependable customer and long-term revenue stream, according to the organisations.
“The execution of this agreement has further solidified EverGen’s long-standing relationship with FortisBC,” said EverGen CEO, Mischa Zajtmann. “We would like to thank FortisBC for their continued support as a valued stakeholder of the EverGen platform.”
“We are pleased to continue our relationship with EverGen and Fraser Valley Biogas, one of our very first RNG suppliers,” said David Bennett, director, renewable gas and low carbon fuels at FortisBC.
“By continuing to increase our RNG supply, we are helping to reduce greenhouse gas emissions and supporting our vision to have around 75% of the gas in our system be renewable and low-carbon by 2050.”
EverGen has also secured a long-term feedstock supply agreement with a waste disposal consolidator in the region.
The feedstock secured represents greater than 50% of the off-farm waste required to achieve name plate capacity.
“Securing this long-term energy rich waste, along with our previously secured feedstock streams, ensures input security for the FVB project,” said EverGen CEO, Mischa Zajtmann. “With both offtake and feedstock agreements in place on a long-term basis, EverGen has significantly de-risked the FVB project.”
EverGen confirms 20-year RNG offtake deal with FortisBc
