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Global News
28-05-2025
- Business
- Global News
Alberta policies have dampened investor confidence in renewables: report
A report from clean energy think tank Pembina Institute suggests investor confidence in Alberta's renewables sector has been dampened by provincial policy moves. Authors of the report released Wednesday looked at the provincial electrical system operator's queue of projects waiting to connect to the grid between 2021 and 2024. That data gave them a sense of investor interest in Alberta renewables before and after the province imposed a surprise seven-month moratorium on new wind and solar projects in 2023. 2:04 Strict regulations introduced for Alberta renewable energy development With the threat of U.S. tariffs continuing to loom, Alberta should be actively seeking out every investment dollar it can, said Scott MacDougall, director of the Pembina Institute's electricity program. Story continues below advertisement 'There is strong evidence that Alberta has weakened renewable energy investments through its actions to date,' he said in a news release. 'The good news is the growth in low-cost renewable electricity is continuing elsewhere in Canada and the world, so those dollars are still there for the taking, if the Government of Alberta works to restore market confidence quickly.' View image in full screen The Pembina Institute says the Alberta government has work to do to restore investors confidence in renewable energy in the province. File Photo Pembina recommends Alberta create regulations that support a vision for a 'clean, resilient and affordable' electrical system and fast-track developments in areas where utility-scale renewable projects would be particularly well suited. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy It is also calling for ways to boost the system's independence and resilience by enabling electricity exports and imports with neighbouring grids, energy storage and other measures. The renewables moratorium is over, but the institute said continuing sources of uncertainty include a broad restructuring of the electricity market, Alberta's legal challenge to federal clean electricity regulations, barring wind developments near 'pristine viewscapes' and new reclamation requirements. Story continues below advertisement 'No other industry sectors have been subjected to such onerous rules,' Pembina said in the report. Based on data from the Alberta Electric System Operator, the think tank said the number of proposed new projects in the queue last year were on par with two years earlier, before the moratorium. But more projects were cancelled than proposed last year — 9.5 gigawatts versus 8.3 GW. Meanwhile, other jurisdictions like Australia and Texas are seeing their numbers of new projects climb, as other provinces chase renewables growth. 'Restoring investor confidence in the renewables sector has to be a priority item for this government, to ensure Albertans aren't left out while Canadians in other provinces experience the benefits of low-cost, abundant, reliable energy to power their lives for years to come.' The new project queue surged to 20 GW in 2023, in part due to a change that saw project proposals assessed in batches instead of individually, as well as developers rushing to get up and running ahead of the moratorium kicking in. 1:45 Alberta to introduce renewable energy recycling fee A spokesman for Alberta Energy Minister Brian Jean said the province continues to lead Canada in renewable investment. Story continues below advertisement 'Our government has set a clear, responsible path forward for a balanced approach on renewable energy development, ensuring our grid is reliable, affordable and sustainable for generations to come,' Josh Aldrich said in an email. 'Over the past year, we have driven down the cost of electricity in Alberta, improved grid stability with (three GW) of baseload power generation from natural gas and have passed legislation that will restructure the market, providing long-term stability for industry and Albertans.' The Alberta Utilities Commission has approved 44 new generation projects in the past year totalling 3.6 GW, and 2.8 GW of that is from renewables, surpassing the previous two years.
CTV News
28-05-2025
- Business
- CTV News
Alberta policies have dampened investor confidence in renewables: report
Power transmission lines and wind turbines as seen with the Rocky Mountains in the background near Pincher Creek, Alta., Thursday, June 6, 2024. THE CANADIAN PRESS/Jeff McIntosh A report from clean energy think tank Pembina Institute suggests investor confidence in Alberta's renewables sector has been dampened by provincial policy moves. The report's authors looked at the provincial electrical system operator's queue of projects waiting to connect to the grid between 2021 and 2024. That data gave them a sense of investor interest in Alberta renewables before and after the province imposed a surprise seven-month moratorium on new wind and solar projects in 2023. The moratorium is over, but the institute says other sources of uncertainty include a broad restructuring of the electricity market, Alberta's legal challenge to federal clean electricity regulations, limits on where wind installations can be built and new reclamation requirements. Pembina says the number of proposed new projects in the queue last year were on par with two years earlier, before the moratorium, but more projects were cancelled than proposed last year while other jurisdictions like Australia and Texas are seeing their numbers of new projects climb. A spokesman for Alberta Energy Minister Brian Jean says the province set a 'clear, responsible path forward' for renewables and that electricity has become more affordable and reliable over the past year. This report by The Canadian Press was first published May 28, 2025. Lauren Krugel, The Canadian Press
CBC
28-05-2025
- Business
- CBC
Alberta policies have dampened investor confidence in renewables: report
Social Sharing A report from clean energy think tank Pembina Institute suggests investor confidence in Alberta's renewables sector has been dampened by provincial policy moves. The report's authors looked at the provincial electrical system operator's queue of projects waiting to connect to the grid between 2021 and 2024. That data gave them a sense of investor interest in Alberta renewables before and after the province imposed a surprise seven-month moratorium on new wind and solar projects in 2023. The moratorium is over, but the institute says other sources of uncertainty include a broad restructuring of the electricity market, Alberta's legal challenge to federal clean electricity regulations, limits on where wind installations can be built and new reclamation requirements. Pembina says the number of proposed new projects in the queue last year were on par with two years earlier, before the moratorium, but more projects were cancelled than proposed last year while other jurisdictions like Australia and Texas are seeing their numbers of new projects climb. A spokesperson for Alberta Energy Minister Brian Jean says the province set a "clear, responsible path forward" for renewables and that electricity has become more affordable and reliable over the past year.
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Report finds Alberta's restrictive renewables policies dampened investment
Investment in Alberta's renewables sector has dropped off significantly owing to unprecedented policy and regulatory uncertainty, with the number of wind and solar projects in the province's connection queue shrinking for the first time, a new report has found. According to the report released Wednesday by the Pembina Institute, a think tank, Alberta's renewables sector has gone from leading the country to cancelled projects and lost investment. That has put the province at odds with global trends and other Canadian jurisdictions, which continue to gain momentum. According to the International Energy Agency, for example, two-thirds of global energy investment in 2024 went toward clean energy, rather than fossil fuel projects. Will Noel, one of the report's authors and a senior analyst with Pembina's electricity team, said with Prime Minister Mark Carney pushing to build Canada into an energy superpower in fossil fuels and renewables, every province is going to have to pull its weight. Why Alberta's new regulations put renewables at an even bigger disadvantage 'For Alberta, whether they like it or not, we've got the best wind and solar resources,' Mr. Noel said in an interview ahead of the report's release. 'The best thing that we can do to play a meaningful role in making Canada economically resilient and energy secure is to capitalize on those renewables. And as of right now, we're not really doing a great job of that.' Various factors have contributed to the slide in investment in Alberta, the report says, including a seven-month moratorium on renewable project approvals, banning projects from certain classes of agricultural lands and within 35 kilometres of protected areas, a new upfront recycling fee for wind and solar equipment, and new reclamation security requirements for developers. 'No other industry sectors have been subjected to such onerous rules,' the report says. While Alberta is seeing roughly the same number of new projects being proposed as in pre-moratorium times, Mr. Noel said that is being offset by the number of proponents of long-term projects pulling out and looking to invest elsewhere. The Indigenous-led solar farm redefining Alberta's energy landscape Further undercutting long-term certainty for the renewables market are changes to the province's electricity system, the government's challenge to the constitutionality of federal Clean Electricity Regulations, and signals that updates to transmission regulations would increase the cost of grid access for new power plants, especially wind and solar, the report says. The office of Alberta's Affordability and Utilities Minister Nathan Neudorf said in an e-mail that the province continues to lead Canada in renewables investment. Mr. Neudorf said the province has also driven down the cost of electricity, improved grid reliability and passed legislation that will restructure the market to provide long-term power stability. 'Our government has set a clear, responsible path forward for a balanced approach on renewable energy development, ensuring our grid is reliable, affordable and sustainable for generations to come,' he said. To draw their conclusions for the report, Mr. Noel and his colleagues Jason Wang and Scott MacDougall examined the Alberta Electric System Operator's project connection queue, which provides a high-level overview of investment interest in Alberta's electricity sector. Opinion: As Alberta shows renewables the door, other jurisdictions are reaping the benefits They expected to see steady growth in the queue year-on-year, as in other jurisdictions. But by the end of 2024, 'Alberta's project queue was instead sitting at its pre-moratorium level, but with the added concerning factor of a significant number of project cancellations in the previous 12 months,' the report says. The report notes that Alberta has made some progress clarifying its new rules on renewable energy development, but says the province needs to do more to restore investment. It recommends three actions: clearly outlining a vision for a clean, resilient and affordable electricity system, and directing regulators to create the rules and regulations to support such a system; encouraging investment in new projects by fast-tracking development for areas where utility-scale renewable projects would be particularly well-suited; and, modernizing electricity regulations to support energy independence and resilience by promoting the use of interties, energy storage and demand-side management. 'Developers are still really trying their best to try and invest here,' said Mr. Noel. 'Once we stop stacking uncertainty on uncertainty, developers can figure out a way to navigate this. Best-case scenario, we can start leading the country in renewables again.'
CTV News
26-05-2025
- Business
- CTV News
Experts say linking Yukon, B.C. power grids a ‘game-changer' but will take time
Yukon Premier Ranj Pillai, left, and British Columbia Premier David Eby during a media availability at the 2024 Western Premiers' Conference in Whitehorse, Monday, June 10, 2024. CANADIAN PRESS/Crystal Schick Experts say the potential linking of British Columbia's power grid with Yukon would be a game-changer for the territory's quality of life and economy, but realization would likely take more than a decade. University of Calgary professor Jason Donev says Canada's north generally lacks the electricity infrastructure taken for granted in the south, and the lack of cheap, reliable power in many communities weighs on development. Donev says the remote locations and long distances involved in linking the B.C. and Yukon power grids would present 'significant engineering and technical challenges.' B.C. Premier David Eby and Yukon Premier Ranj Pillai last week signed a memorandum of understanding to explore connecting the grids. Rosa Brown with clean-energy think tank the Pembina Institute says similar projects have shown it would take 'a decade-plus' to progress from a memorandum of understanding to an actual power link. Brown says a feasibility study a decade ago determined the link was too costly, but fresh factors ranging from Ottawa's higher interest in nation-building projects and increased demand in Yukon for electric heating and vehicles have likely shifted the calculation. The B.C. government says the signing of the memorandum — which took place at the Western premiers conference — would mean opportunities for the province to connect its clean electricity to critical resource mining and other projects in Yukon. The University of Calgary's Energy Education website says the closest point where Yukon's grid could connect to B.C. would require at least 900 kilometres of transmission lines as well as a number of intermediate substations. This report by Chuck Chiang, The Canadian Press, was first published May 26, 2025.
