22 LEXPERT
|
2016
|
WWW.LEXPERT.CA
PHOTO:
SHUTTERSTOCK
How
Much,
How Fast
Governments have gotten
the ball rolling on climate
change plans. How quickly
those plans unfold — and
what level of financial
support they entail
— remains to be seen
By Bev Cline
INVESTORS SEE LOTS of potential for innovation and a myri-
ad of business opportunities in Canada's clean-tech and renewable
energy space — not surprising given the momentous policy initia-
tives coming from the provinces, such as Ontario's Climate Change
Action Plan and Alberta's Climate Leadership Plan. At the same
time, there's a wait-and-see nervousness. How exactly these plans
and policies will unfold is unclear. And, if there's anything that
makes investors nervous, it's uncertainty.
To date, Ontario has been the poster child of renewables in
Canada, with its aggressive pace of procurement. But Sarah Pow-
ell, an environmental lawyer in Toronto, says her clients, primarily
utility scale developers in the wind and solar sectors, are looking
westward, shiing much of their interest to Alberta. ere's also
interest in Saskatchewan, where the current climate strategy aims
to double renewables by 2030. Over the next decade, this means a
major expansion of wind, solar and hydro power in the province.
e market in Ontario, says Powell, a partner at Davies Ward
Phillips & Vineberg LLP, is both mature and saturated. In con-
trast, we're seeing "a transformational moment" in Alberta and Sas-
katchewan, says Powell, as they move away from their traditional
reliance on coal-fired generation, which has always been their pri-
mary electricity source. "Clearly the clock is ticking," says Powell.
e question is, how quickly will these provinces move away from
CLEAN-TECH & RENEWABLES
