Alberta policies have dampened investor confidence in renewables: report
Global News
A new report from the Pembina Institute says provincial government's policies towards renewable energy have weakened investors confidence in the industry in Alberta.
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.
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.
“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.”
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.
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.
