The environmental attribute market is often difficult to navigate, and the Renewable Energy Certificate (REC) marketplace is no exception. Bluesource has assisted the Prince Edward Island Energy Corporation (PEIEC) in their REC marketplace journey since 2014.
In 2001, PEIEC constructed the North Cape Wind Farm, Atlantic Canada’s first commercial wind farm, which supplies 9% of the island’s electricity supply. By providing PEIEC with marketing and brokerage services, Bluesource helped to monetize Renewable Energy Certificates (RECs) that the wind farm project created.
The journey began by leveraging Bluesource’s extensive in-house knowledge and experience in transactional situations and contracting structures to pursue long-term sales contracts for RECs on PEIEC’s behalf, while taking into account their client-specific contracting requirements.
The outcome was highly favorable. The Bluesource team helped secure contracting and pricing via a long-term agreement with a reputable REC buyer, ultimately helping provide PEIEC an incremental, stable revenue stream that would have otherwise been unrealized.
