Alberta's New Climate Change Strategy: What Does It Mean For Renewable Power Project Development In The Province?

As BLG advised in our November 23^rd Bulletin All Change — Alberta Overhauls Climate Policy, Ushers In Sweeping New Requirements, the Alberta Government recently announced its new climate change strategy and policies in advance of heading to Paris for the 2015 United Nations Climate Change Conference. These policies will touch all aspects of Alberta's economy. However, it is the electricity sector, and Alberta's merchant power market in particular, that is likely to be most affected because these new policies mandate a change in Alberta's future power generation mix. As we predicted in our November 16^th Bulletin Alberta's Power Play: Potential Changes Should Bring New Renewable Power Project Opportunities, coal is on its way out, and is to be replaced with lower-carbon natural gas and zero-carbon renewables.