Eaglesledge Energy Plans $3B Investment In Green Energy-Powered Refinery With Carbon Capture

Eaglesledge Energy Ltd. is making a bold move in the renewable energy sector with its plans to invest $3 billion in a new green energy-powered refinery and solar farm in Saskatchewan, Canada. 

The corporation, based in Vancouver, is known for its commitment to sustainable energy development and is now aiming to take their efforts to the next level by incorporating cutting-edge green technology into their new project. 

The company plans to build a refinery for clean fuels and a solar facility near Belle Plaine, within the Bakken Oil Formation region. The proposed refinery is set to produce 30,000 barrels per day of ultra-low-sulfur diesel, gasoline, and jet fuel, with the ability to expand capacity up to 85,000 bpd through its modular design. 

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The innovative element of this project lies in the integration of carbon capture and storage (CCS) technology, which will capture more than 90% of the facility’s carbon emissions, thus lowering its environmental footprint.

Additionally, ELE intends to construct a 125-megawatt solar farm to supply extra power to the refinery, although most of the electricity generated will be used to support the local power grid and nearby companies.

In the initial phase of the project, totaling $640 million in expenses, ELE is set to construct the refinery facility, the solar power plantation, and establish a rail link to the Canadian Pacific Kansas City line, as announced by Boris Weiss, the CEO and chairman of ELE.

Read more: Canada Natural Resources Minister Says More Carbon Capture Projects Are Coming

Once the refinery and solar farm are operational, in the second phase of the project, Eaglesledge Energy intends to integrate CO2 capture and storage technology into the site to transform carbon dioxide and hydrogen into products that can be sold.

ELE representatives have shared that the company may also construct a 400 MW solar farm to support the CCS technology because of its significant energy requirements. The estimated price for this step is projected to be roughly $2.5 billion, rounding the total for the entire project to around CDN $3.1 billion.