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Renewable generation & focused distribution
The RenuWell project will reduce the high up-front costs of renewable energy development by utilizing disturbed land and existing infrastructure such as access roads, graded well pads and electrical infrastructure. It will also reduce the high overhead costs associated with smaller-scale networked projects and enable a rapid transition to a cost-competitive distributed system where generation capacity is closer to the energy consumer.
In Alberta approximately 90,000 wells are already abandoned but not reclaimed, making these sites immediately suitable for RenuWell. RenuWell projects utilize abandoned wells as brownfield sites for solar, wind, and/or geothermal development and the solutions we offer can apply to orphaned wells or operating fields in need of reduced power & op-ex costs.
Our model solves the growing challenge of legacy oil and gas infrastructure with a proactive clean-energy, community-oriented solution that turns liabilities into assets. This approach could simultaneously preserve approximately 14,000 hectares of land that would otherwise be required to develop Alberta’s goal of 5,000 MW of renewable energy generation.
The RenuWell Project will demonstrate value to oil and gas producers by providing low-cost electricity for ongoing production while improving the overall carbon intensity of their operations. Lease liabilities would also be reduced because the risk to the landowners is reduced. In addition to the natural economic and environmental gains, advantages include providing local skills training and employment initiatives for oil and gas workers and indigenous communities.