In September, the Albertan government announced a firm target of -- of electricity to be sourced from renewables by ----, as part of its Climate Leadership plan. However, the government did not release details on how this goal will be achieved in practice, and has yet to announce a timeline for the retirement of the province s coal-fired power plants in order to make room for new renewables capacity. ...The Alberta Electric System Operator has submitted a plan to the provincial government for the implementation of the Climate Leadership plan, and has announced it plans to hold a first procurement auction before the end of ----. Opposition to the development of the -.-GW Site C hydropower project in British Columbia is growing, on the basis that the CAD-.-bn complex would have an excessively disruptive impact on the environment and impose high costs to taxpayers despite flat power consumption growth. Since the project started construction in June ----, the plant is currently included in our forecasts; nevertheless, we highlight that this opposition poses a downside risk to our long-term forecasts. ...The union s ultimate goal is reportedly stopping the government from selling any more shares of Hydro One. At the time of writing, there is limited visibility on whether
...In June, Siemens Canada s wind and renewables division said that they expect up to CAD--.-bn to be spent on renewables in the two provinces of Alberta and Saskatechewan over the next -- years. Moreover, it was reported in April that Canadian energy company Suncor Energy is planning to develop ---MW of solar projects in Alberta, divided between three projects expected to come online in ----. ...In June, Siemens Canada s wind and renewables division said that they expect up to CAD--.-bn to be spent on renewables in the two provinces of Alberta and Saskatechewan over the next -- years. Moreover, it was reported in April that Canadian energy company Suncor Energy is planning to develop ---MW of solar projects in Alberta, divided between three projects expected to come online in ----. Recent developments in Canada s hydropower industry have confirmed our growth forecasts for the sector in ----. In August ----, the --MW Jimmie Creek hydropower plant entered commercial operations. The project, developed by Alterra Power Corp., has a ---year long power purchase agreement (PPA) with BC Hydro.
...BMI View: Growth in the Canadian power sector will be driven by the implementation of a vast pipeline of hydropower projects, as well as political commitment to increasing the role of renewables and natural gas in the electricity mix. Weak growth in power consumption and overcapacity in most Canadian provinces, coupled with the high costs of developing large hydropower plants, represent the main downside risks to our power forecasts, while renewables plans in Alberta and Saskatchewan create upside potential. ...
