EverGen, a player in renewable energy solutions, has finalized a pivotal 20-year offtake agreement with FortisBC Energy Inc. The agreement, executed through EverGen's subsidiary Fraser Valley Biogas Ltd. (FVB), is pending approval from the British Columbia Utilities Commission.
Under the terms of the deal, FortisBC will procure renewable natural gas (RNG) from FVB for integration into its extensive natural gas network. This strategic alliance ensures FortisBC a reliable and consistent supply of RNG, bolstering its commitment to sustainability and long-term operational stability.
In a statement, EverGen CEO Mischa Zajtmann emphasized the significance of the partnership: “The execution of this agreement has further solidified EverGen's long-standing relationship with FortisBC.”
David Bennett, Director of Renewable Gas and Low Carbon Fuels at FortisBC, expressed optimism about the collaboration: “We are pleased to continue our relationship with EverGen and Fraser Valley Biogas, one of our very first RNG suppliers.”
EverGen also secured a crucial long-term feedstock supply agreement with a regional waste disposal consolidator, ensuring reliable input for the FVB project. According to Zajtmann, “Securing this long-term energy-rich waste, along with our previously secured feedstock streams, ensures input security for the FVB project.”
With both offtake and feedstock agreements now in place, EverGen has significantly mitigated project risks associated with the FVB initiative, marking a milestone in their renewable energy portfolio.
