Renewable Energy and a Vision for a Prosperous and Clean Alberta. Presentation March 2015

Transcription

1 Renewable Energy and a Vision for a Prosperous and Clean Alberta Presentation March 2015

2 Outline About Greengate Power Corporation Vision for Alberta Global Renewable Energy Leader The Age of Renewables is Beginning Economic and Environmental Benefits Status of Wind Energy in Alberta Barriers

3 About Greengate Power Corporation Calgary-based wind energy project developer Focused on wind energy project development in Alberta Close proximity to transmission lines with available capacity Contracted sources of revenue High quality wind resources Geographically diverse project areas Developed 450 MW of construction-ready wind energy projects in Alberta 150 Halkirk Wind Project, 120 km east of Red Deer in the County of Paintearth 300 MW Blackspring Ridge Wind Project, 160 km south east of Calgary in Vulcan County Currently the largest operating wind energy project in Canada Capital investment of $1 billion Greenhouse Gas emissions reductions of 20 million tons over 25 years Clean source of electricity for 200,000 homes

4 Vision for Alberta Global Renewable Energy Leader Alberta can be a global renewable energy leader Among the best onshore wind resource in the world Not just Southern Alberta, but across the province Ocean of Land Best solar resource in Canada Comparable to the solar resource in Miami, Florida Alberta s needs new power generation Load is growing (~3% for the foreseeable future), Significant coal assets are set to retire The AESO forecasts that 6,190 MW of new power generation will need to be built by 2022

5 The Age of Renewables is Beginning Citi says solar and wind are currently competing on costs with fossil fuels Renewables more competitive as price of natural gas rises Coal and nuclear structurally disadvantaged due to increased environmental regulations

6 Economic Benefits Renewable energy is currently one of the largest global business opportunities Global renewable energy investment of $630 billion per year by 2030 More than 3x the investment in renewable energy in 2012 Renewable energy is a hedge against the potential for rising natural gas prices Renewable energy brings significant rural economic benefits Local jobs Increased municipal tax revenues Additional income stream for farmers and ranchers Example: Typical 300 MW wind energy project $1.5 million per year distributed to landowners $5 million per year in additional tax revenue for rural municipality 200+ full-time jobs during construction, 20+ full-time jobs during ongoing operation

7 Environmental Benefits Renewable energy is a clean source of electricity Does not produce GHG or other airborne emissions Renewable energy is the best short-term opportunity to improve Alberta s environmental performance Social License Alberta s GHG emissions due to power generation (primarily conventional coal) match the GHG emissions from oilsands Emissions reductions in the oilsands sector will require significant time and R&D investment Short-term emissions reductions possible in power generation by utilizing proven, cost-effective and reliable energy sources like wind and solar energy

8 Status of Wind Energy in Alberta Currently 1,471.1 MW of installed wind energy generation capacity Opportunity to grow installed wind energy generation capacity to 25% of total system (~3,500 MW) with current technology From leader to laggard Alberta was formerly Canada s wind energy leader Currently in third place behind Ontario and Quebec Source: CanWEA, December 2014

9 Barriers Lack of provincial support relative to other jurisdictions around the world Global competition for capital Policy uncertainty Cumbersome regulatory process Unnecessarily long timeframes for approval Lack of coordination between the various regulatory agencies Lack of readily available long-term power purchase contracts Merchant market pricing uncertainty makes financing extremely challenging

10 Conclusion Alberta can be a global renewable energy leader The age of renewables is beginning Renewable energy provides significant economic and environmental benefits Alberta has gone from renewable energy leader to laggard Supportive provincial policies are required if we want to achieve our renewable energy potential

11 Questions? If you have any questions please contact Greengate Power Corporation: Dan Balaban President & CEO (403)