BMO Financial Group announced that it will purchase 4,760 megawatts of green electricity annually from Nova Scotias newest green electricity retailer, Bullfrog Power.
"We think it is important," said Jim Johnston, the banks director of environmental sustainability.
"Theres no doubt coal is probably the cheapest electricity you can buy these days but its probably the most harmful."
He said bank customers are demanding the bank be more environmentally sustainable, so BMO has a goal to use energy more responsibly.
"It is part of our environmental policy to encourage a green workplace through programs that promote energy efficiency, waste minimization, recycling and green procurement," Mr. Johnston said from Toronto.
BMO will power 33 of its branches, its main office in downtown Halifax and other offices around Nova Scotia with electricity from Bullfrog Power.
The bank will also buy renewable power for its 27 facilities in New Brunswick and four in Prince Edward Island.
Effective immediately, BMO becomes the biggest user of Bullfrog Power in Atlantic Canada.
The announcement follows purchases over the last two years of Bullfrog Powers clean, renewable energy for BMO locations in Ontario, Alberta and British Columbia, where a total of 78 branches have been Bullfrog-powered to date.
Headquartered in Toronto, Bullfrog already provides green power to 8,000 homes and 900 businesses in Ontario and Alberta and only recently moved into B.C.
To provide the green electricity, Bullfrog will inject green power from New Brunswick or P.E.I. into the Nova Scotia electricity grid to match the amount used by its customers.
"At Bullfrog Power, were delighted that BMO has decided to expand its green power partnership with us, as we bring a new green electricity choice to Maritime homes and businesses," said Tom Heintzman, Bullfrog Power president. "By choosing to Bullfrog-power all of its operations in the Maritimes, BMO continues to play an important role in the advancement of the renewable power industry in Canada."
BMO pays a premium for tapping into the renewable electricity but refused to say how much more they will pay.
Bullfrog started offering the electricity on Sunday to Nova Scotia businesses and homeowners for an additional two cents per kilowatt hour, according to Mr. Heintzman.