Canada is on track to add 5.5 gigawatts of new solar and wind capacity this year, most of it in Alberta, according to S&P Global Market Intelligence.
The analysts see the country with 7,292 megawatts of new capacity from all sources, with 833 MW of existing power production due to be retired, the Institute for Energy Economics and Financial Analysis reports.
“Most of the new wind and solar projects are in Alberta, where a deregulated market for surplus power sales and the province’s established market for emissions credit valuation and trade have helped drive renewable investment in the province, helping Canada reach its goal of net-zero emissions by 2050,” IEEFA writes.
Three new solar installations in Alberta are expected to go online this year: the 465-MW Travers Solar Project, the 400-MW Brooks Solar Project, and the 150-MW Indus Solar Farm in Calgary area.
