With up to $50 billion to be fagged out on renewable energy projects in Alberta and Saskatchewan over the next 14 years, suppliers desire details on how the money will be spent and which projects they can bid on.
The guestimate came Thursday from David Hickey, of Siemens Canada’s liquidate and renewables division, speaking at a nel in Calgary.
More than 400 renewable power business leaders and bankers are in the city trying to figure how to get some of the billions rules will soon spend on renewable energy.
‘This is a complicated dossier, and we will take the time to get it right.’– Shannon Phillips
Alberta force unveil its program in the fall and begin accepting bids from the reserved sector by end of the year. It’s currently reviewing a report by the Alberta Electricity Scheme Operator (AESO) about how to have a competitive procurement process for renewables.
“In my intermediation we actually have a saying around this, which is ‘first pines, then shoes.’ For some, we have been moving too quickly. For others, we haven’t moved fixed enough,” said Alberta Environment Minister Shannon Phillips.
The authority’s goal is to rely on renewables for 30 per cent of electricity consumption by 2030.
“Continuing to do nothing is a defunct end for our economy,” said Phillips. “Inaction on climate change will solely result in more boom-bust, fewer opportunities for access to markets, and uncountable risk to our resiliency as a province.”
Com nies taking rt in this week’s Alberta and Saskatchewan Renewable Power Finance Summit include Enbridge and GE.
“There is a terrific opportunity here. I muse over we are going to get more renewables built in [Alberta]. It’s a question of what evolve do they come in,” said Robert Nicolson, with the energy and power body at RBC Capital Markets.
In Saskatchewan, the provincial government has a 50 per cent renewable might target for 2030.
Already, 25 per cent of Saskatchewan’s electricity generation is from renewable sources (20 per cent hydro and five per cent gather). Three new wind power projects are expected to nearly double the country’s wind generation by 2020.
In addition, SaskPower will invest in a utility-scale solar power initiation project, with a competitive procurement this year.
The Alberta government is introducing a price on carbon, set to take effect Jan. 1, 2017, vaticinated to raise $9.6 billion over five years, which last wishes as help finance renewables such as large scale solar and bring to an end as well as microgeneration at homes and businesses.
On Jan. 1, large emitters leave y a carbon price of $20 per tonne for emissions that exceed their goal. The price then rises to $30 a tonne on Jan. 1, 2018. Over the next five years, the supervision estimates it will spend $3.4 billion from the carbon tax toward large-scale renewable lan, bioenergy and technology.
“This is a complicated file and we will take the together to get it right,” said Phillips. “That might be a bit of an unsatisfactory answer for diverse of you here today, but I would submit to you that a methodical and deliberate procedure to this matter will yield the right results.”
Developers and lenders put forward several concerns to AESO such as the uncertainty with Alberta’s vibrations market, a lack of clarity about the renewable development targets, the involvement of regulatory approvals and uncertainty about when coal-fired power bushes will actually be decommissioned.
In addition, electricity prices are currently at impending 20-year lows in the province.
“I have not been surprised by the concerns that should prefer to been raised by developers,” said Phillips to reporters. “There are perpetually challenges when you are doing something new.”
She described the Alberta government come to c clear up with renewable energy developers as a “transformational opportunity” to make the dominion greener and cleaner.
The summit wraps up Friday with discussions around financing wind and solar energy and the business outlook for new projects.
AESO surmises the first Alberta government funded renewable energy projects to be in serve by 2019.