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The second-largest solar project under development in Canada, the 556-megawatt DC Homestead Solar Project in Alberta, has been acquired by New York-based Greenwood Sustainable Infrastructure.
The acquisition raises Greenwood's project pipeline to 2.1 gigawatts of solar developments.
Located in the Municipal District of Willow Creek, south of Calgary, Homestead was purchased from Calgary-based oil and gas producer Kiwetinohk Energy, according to a news release from Greenwood. Financial terms were not disclosed.
“The acquisition of the Homestead Solar Project represents a significant milestone in expanding (Greenwood’s) clean energy presence within the Canadian market,” Mazen Turk, CEO of the renewable energy project developer, builder and operator, said in the announcement.
An Alberta government website for major projects says Homestead was approved by the Alberta Utilities Commission on Sept. 22, 2022. It has been scheduled for completion by 2027.
Greenwood focuses on utility-scale solar energy and battery storage projects in North America. Since 2010, it has developed approximately 388 megawatts (MW) of projects across 82 renewable energy ventures. Its in-development Canadian solar projects are located in Alberta, Saskatchewan and Ontario.
In Alberta, Greenwood is developing a total of 580 MW of capacity across two projects. In neighbouring Saskatchewan, a key Greenwood site is the 100 MW Turning Sun Solar, formerly Iyuhána Solar. In Ontario, the company has 146 MW of capacity in the works across three projects.
Homestead will raise Greenwood’s renewable energy pipeline to approximately 2.1 gigawatts (GW) DC of solar development and 340 MW of battery energy storage projects in North America. The company plans to further elevate its pipeline to five GW of clean energy projects by 2029.
Sustainable Biz Canada has reached out to Greenwood and will update this article with any additional information as it becomes available.
Solar loses some shine in Alberta
When complete, Homestead will rank among the biggest solar energy projects in the country, joining the likes of the 465 MW Travers Solar Project and 132 MW Claresholm Solar Project, both in Alberta.
Alberta has stood out in Canada for its high renewables potential due to a favourable natural environment for solar and wind, plus a deregulated electricity market that plays into the hands of project developers.
But that reputation has taken a hit following a province-wide moratorium on renewables development that lasted from 2023 to 2024, and tightened restrictions on where the infrastructure can be built.
According to Business Renewables Centre Canada, corporate renewable energy deals for solar in Alberta have fallen since a peak of 715 MW in 2021. In 2025, there was only six MW of deal-making in the Alberta solar industry.
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