New Renewable Electricity Procurement In Alberta

The Alberta Minister of Environment and Parks, Shannon Phillips, announced two new rounds of Renewable Electricity Procurement (REP) at the recent Alberta Saskatchewan Renewable Energy Financing Summit conference. REP 2 looks to acquire up to 300 MW of renewable electricity generation regardless of fuel type and looks to have a minimum of 15 -25% indigenous equity. REP 3 is for 400 MW of generation, again, regardless of fuel source. Phillips announced that the procurement is to be completed by the Alberta Electric System Operator by the end of the calendar year. These rounds follow REP 1 which resulted in the acquisition of 600 MW of renewable power with a weighted average price of $37.00 /MW, a record low price. Alberta is looking to acquire a total of 5 000 MW of renewables capacity by 2030. Developers and indigenous groups will be looking to move quickly to engage on these rounds of procurement.