Alberta has taken another step towards its goal of developing 5,000 megawatts of renewable electricity capacity to help reach its target of 30 per cent renewable energy by 2030.
Competition is now open for the second and third rounds of the Renewable Electricity Program (REP), which will see more private-sector investment, jobs and partnerships with Indigenous communities, the province said on Wednesday.
In February 2018, Capital Power, EDP Renewables and Enel Green Power North America were announced as successful bidders in the first round of the ERP. Together they are expected to add approximately 600 megawatts of renewable power to Alberta’s grid, or enough to power up to 255,000 homes.
Alberta's peak electrical demand was 11,458 megawatts in 2016, according to the Alberta Electric System Operator (AESO).
AESO administers the program, and says that the first round was “tremendously successful.”
The second and third rounds announced this week will add a further 700 megawatts of renewable power. REP Round 2 has a procurement target of up to 300 megawatts and includes a minimum 25 per cent Indigenous equity ownership requirement, while REP Round 3 has a procurement target of up to 400 megawatts.
In all, Alberta expects to attract approximately $10 billion in new private investment and create about 7,000 jobs for Albertans by 2030.
AESO, will coordinate the next stages of the competition over the coming months with successful bidders announced by the end of 2018.