Ontario Power Generation (OPG) has signed an agreement to supply Clean Energy Credits (CEC) to Magna International, a global automotive supplier. The credits will come from OPG’s Sir Adam Beck Generating Complex, a hydroelectric facility.
Clean Energy Credits allow businesses in Ontario to voluntarily purchase and retire credits from low-carbon electricity producers to support their sustainability goals. The Province’s CEC registry, established in 2023, tracks the program to ensure transparency and prevent duplication of credits.
A majority of the revenue from these CEC sales will go to the Government of Ontario’s Future Clean Electricity Fund (FCEF), which supports investments in new low-carbon energy projects. The initiative aligns with Ontario’s increasing electricity demand, which is expected to grow by 75 percent by 2050, according to the Independent Electricity System Operator (IESO).
“Partnerships like this show how OPG’s electricity generation is key to Ontario’s low-carbon energy advantage,” said Nick Pender, OPG Senior Vice President, Renewable Generation and Energy Markets. “Through sale of CECs, OPG helps industry meet their sustainability goals, while also benefiting ratepayers and enabling new generation to help meet Ontario’s growing electricity demand through the government’s Future Clean Electricity Fund.”
Magna has committed to purchasing CECs to meet its sustainability goals in Canada by 2028, two years ahead of schedule.
“Purchasing Clean Energy Credits from OPG is a key step in Magna’s ongoing sustainability journey,” said Ahmed Elganzouri, Global Director, Sustainability and Energy at Magna. “By securing renewable electricity certification ahead of schedule, we’re advancing our environmental goals and supporting long-term energy stability and cost certainty. This decision reflects our commitment to a cleaner and more sustainable future for our operations and the communities we serve.”
OPG is one of North America’s largest electricity generators, with a diverse portfolio that produces over 70 TWh of low-carbon electricity annually. The company continues to invest in low-carbon technologies and electrification projects to support the growing clean energy economy.
