Edmonton, Alberta: Shannon Phillips, Alberta’s Minister of Environment and Parks and the Minister Responsible for the Climate Change Office, announced November 3 that the provincial government would be introducing the Renewable Electricity Act to legislate its target of 30 per cent renewable electricity by 2030. The program is to add 5,000 megawatts of renewable electricity capacity by 2030 using a competitive process, administered by the Alberta Electric System Operator (AESO). Alberta has a target of 30 per cent renewable electricity by 2030.
The first competition will see investors bidding to provide up to 400 megawatts of renewable electricity. The AESO will gather feedback from industry on draft commercial terms starting on Nov. 10, and before the first competition takes place in 2017. Successful projects will be financially supported by reinvesting a portion of carbon revenues from large industrial emitters. In addition, safeguards will be in place to ensure that the process is fair and transparent.
David Erickson, President and Chief Executive Officer, AESO, said, “As investment in renewable energy in Canada is growing rapidly, Alberta has been largely on the sidelines in this key part of the future energy supply, so we are pleased to see policy that provides the long-term certainty and stability that encourages global and local companies to invest. Calgary is a centre of innovation across the entire spectrum of energy resources and growth in renewables is a key element of our 10-year-economic strategy Building on our Energy to expand the economy and diversify our key industries.”
“As the AESO built our recommendations for government, we were keenly aware of ensuring that competitive outcomes drive the best result for the province. Reaching 5,000 megawatts of new renewable generation is a complex task, but we are confident we can reliably integrate this much renewable energy into the electricity system in a cost-effective manner by accessing the benefits of robust competition.”