Greengate Power

About Greengate Power

Greengate Power operates as a renewable energy project developer based in Calgary, Alberta, focusing on creating large-scale wind and solar projects across North America. The company was founded in 2007 by Dan Balaban, who currently serves as CEO & Executive Chair. Balaban, leveraging a background in computer science and prior entrepreneurial success with Roughneck.ca, a software provider for the oil and gas industry, identified an opportunity in the energy transition. He started Greengate with his own capital, a wind map of Alberta, and a vision to develop renewable energy projects that offered both economic viability and a positive environmental impact.

The company's business model centers on identifying and developing high-potential sites for wind and solar farms, taking them from conception to a shovel-ready state. Greengate then secures investment and partners for construction and long-term operation, often selling the projects while retaining an ongoing economic or management interest. This strategy has attracted approximately $2 billion in investment from major industry players like Enbridge, Capital Power, Copenhagen Infrastructure Partners (CIP), and Potentia Renewables. The company's revenue is generated through the sale of these developed projects and ongoing management services.

Greengate's portfolio includes some of Canada's most significant renewable energy installations. Key milestones include the development of the 150 MW Halkirk Wind Project, which was sold to Capital Power in 2011, and the 300 MW Blackspring Ridge Wind Project, sold to a partnership between EDF EN Canada and Enbridge in 2013 and was Canada's largest wind farm upon completion. A landmark achievement is the Travers Solar Project, which began development in 2017. Through a major investment from CIP, this 465 MW facility became the largest solar project in Canada upon becoming operational in 2022. Corporate clients like Amazon and Microsoft have signed power purchase agreements (PPAs) for the energy generated from Greengate-developed projects, underscoring the market demand for subsidy-free renewable power.