Since 2019, the state of Alberta has experienced rapid growth in the renewable sector mainly thanks to corporate investment which has resulted in an increased installed capacity that has been estimated to produce enough electricity to supply 1.5m Canadian households. According to the Business Renewables Centre Canada, $3.7bn of renewable energy projects since 2019 resulting in an increase in the installed capacity by 2.5GW. A vast majority of the projects have been structured as power purchase agreements and consist of wind and solar projects. In this article, we will discuss three key green energy infrastructure investors that are at the heart of the green energy transition in the state.
1) Enbridge Inc (Calgary, Alberta)
Enbridge is based in Calgary, Alberta, and operates across North America investing in modern infrastructure such as renewable energy projects. Since their original investment in 2002, the Canadian group has invested $8bn in renewable energy projects which have resulted in an installed capacity of 5.1GW consisting of wind, solar, and geothermal assets. In September 2022, Enbridge acquired renewable energy and developed TGE for $270m. TGE is the third largest onshore wind developed in the United States with an installed capacity of 7GW and will cement the firm’s position as a leading investor in green energy infrastructure projects in North America.
2) BHE Canada (Calgary, Alberta)
Berkshire Hathaway Energy was founded in 2015 with the aim of leading the green energy transition across North America. BHE was founded and acted in accordance with the following principles: customer service, employee commitment, environmental respect, regulatory integrity, operational excellence, and financial strength. The Calgary-based firm has become a specialist investor in wind and solar assets. One of its investments includes a 117MW wind farm located in Alberta, named the Rattlesnake Ridge Wind Project which became operational in May 2022.
3) Enfinite (Calgary, Alberta)
Since its inception in 2015, the privately-owned technology-focused company has exclusively targeted green energy storage assets. Enfinite has been involved in the development of 11 storage projects with an installed capacity of 74MW. The Calgary-based firm has a project pipeline of 345MW spread across 9 proposed sites. In February 2023, Enfinite announced the operational capacity of two of the sites which are part of their eReserve project plan. The two projects have an installed 20MW, with a further 315MW to be completed in the coming years.
Image Source: Biel Morro via Unsplash (19.04.2023)
