The Chinook winds haven’t quite picked up today, but in Calgary, the Energy Winds are blowing, and Alberta’s Environment Minister is ready to go. After the success of Renewable Energy Program Phase 1 (REP 1) , government made some changes: The Alberta government says it will require Indigenous equity investment from proponents in its second round of bids to build renewable Wind energy projects in the province.
So, REP 2 is under way!
Environment Minister Shannon Phillips speaks of the projects and eyes a producing capacity of 300 megawatts of electricity in a program they claim is designed to boost the economy and training of Indigenous people. (Great) What say you- Indigenous People??
Chief Roy Fox of the Blood Tribe in southern Alberta said they’re ready to go too! “…. Some of us are shovel ready” (Great x 2!)
Anything else?? She says a third round will follow the same rules as the first in targeting 400 MW of output from any proponent, with details of both to be established by the AESO.
So, REP 3 is also on it’s way! (Great x 3!)
The province has an ambitious goal in my opinion, and wants to add up to 5,000 MW of renewable energy through private sector investment of about $10 billion by 2030.
The pipeline showdown will make headlines for political posturing and photo-ops, but for me this is news people should be aware of! As I’ve said before: this is being done without any fan-fare, no hype, no professional protesters! Just people who are concerned for the energy future, and still see value to be had from projects moving forward.
The debate of our energy diversity mix will continue, but as investors and capital budgets are being set, the market is looking to add more wind to the mix;
And that’s great… bottom-line!
That’s your Market Monday.
I’ve got to grab some Tylenol before the next Chinook rolls in!