CALGARY — Binnu Jeyakumar, Program Director, Electricity at the Pembina Institute, made the following statement in response to the Alberta Government’s announcement on the first competitive procurement process for renewables:
“This auction has blown old renewable energy myths out of the water. Renewables are cheap, clean, and scalable, and it’s a smart and responsible choice to increase their deployment in Alberta.
“Alberta’s first competitive procurement process for renewables show that they are the most economic source of electricity for the province moving forward. At 3.7 ¢/kWh, these prices are cheaper than a new gas plant — even with the current all-time low gas prices. These are also the cheapest contracts for renewables in Canadian history. It’s a good example of how a competitive process coupled with good policy design can result in cheap clean energy.
“This first round procured almost 600 MW of wind energy, enough to power up to 300,000 Alberta homes. Under the Climate Leadership Plan, Alberta has committed to procure 5,000 MW of renewables by 2030, so we look forward to future announcements of this magnitude.
“It is critical to maintain this pace of growth to attract industry and investment, and to maintain sustained job growth. This process sends a strong signal to investors — two of the winning bids were by large international companies.
“Wind energy development will bring local jobs, activity for local businesses, municipal tax revenues, and lease payments for landowners. It can be done in a manner that minimizes local environmental impacts and maximizes investments in the local community.”
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Contact
Communications Lead, Pembina Institute
587-585-4522
Program Director, Electricity, Pembina Institute
587-436-3667
