Community Newsletter (Apr. 2022)
It’s that time of year: BRC-Canada's quarterly Deal Tracker update! Q1 of 2022 saw three new PPAs, all of which involved BRCC companies. Congratulations to RBC, Bullfrog Power, Evolugen and Capital Power for your teams’ achievements this quarter!
Our team is also happy to announce that the BRCC website has been refreshed and streamlined, including new features such as our community directory and a centralized, searchable resources hub.
BRCC was an active participant at GLOBE Forum at the end of March, hosting a successful Buyers’ Breakfast and engaging in sessions throughout the conference. GLOBE Forum is an annual event that brings together innovators and influencers in Canada’s climate and net-zero leadership space. Read below for our key highlights and takeaways!
We also held our first ever Buyers’ Bootcamp last week. Thank you to everyone who joined and made the event a great success. Our cohort of learners is now equipped with all the basics they need to get started on renewable energy PPAs - together, we will put more renewables on the grid and help decarbonize Canada's electricity system!
NEWS & UPDATES
Deal Tracker Update!
The total contracted PPA volume in Canada is up to 1,895 MW – nearly hitting BRCC’s 2025 goal of 2 GW three years early! Check out the full update and additional market insights here.
Refresh to the BRCC Website
Our website rehaul is complete! Check out the new community directory to learn more about organizations in the BRCC community, including the PPA deals each has participated in, and the new centralized, searchable resources hub. Please note that all resources from the Members’ Portal are now located in the resources hub and still require a BRCC login for access. Have feedback on the refresh? Please email our Communications Lead Sarah Nason at sarahn@pembina.org.
Bootcamp and Buyers' Breakfast Recap
BRCC revived in-person programming at the GLOBE Forum in Vancouver on March 30th with our first Buyers’ Breakfast in two years! Another milestone was hit when we held our first ever Buyers’ Bootcamp last week.
The two events brought new and expert buyers together along with industry experts to share lessons learned and answer questions about the PPA process. Some exciting connections have been made that will grow the BRCC community and potentially even lead to some new deals. Attendees came from a wide range of industries, including federal and provincial government agencies, oil and gas, banks, and even foundations. Stay tuned and be sure to join us at our next Buyers’ Breakfast in Toronto if you can!
Renewables in Remote Communities, Whitehorse, YT
BRCC will present and host a table at the Pembina Institute’s Renewables in Remote Communities conference taking place April 25-28. The conference focuses on the collaboration, climate and energy policies and the financial pathways for renewable project proponents necessary to further accelerate an Indigenous-led clean energy transition in remote communities across Canada. Learn more and register here!
UPCOMING EVENTS
Buyers' Breakfast in Toronto
June 9 | 8:00 am – 9:30am EST | Distillery District, Toronto
Spread the word! We are hosting another Buyer’s Breakfast. This is an informational event for organizations looking to secure their electricity from renewable sources. A light breakfast will be served.
More information and registration here.
MARKET NEWS
New Trend: Deal Stacking For the first time since Alberta’s private renewables market kicked off in 2016, we are now observing “deal stacking”: multiple offtake deals being made on the same renewable energy project. Deal stacking occurred twice over the last month, with the Rattlesnake Ridge and Whitla 2 wind projects both receiving new offtake agreements on top of their existing ones. While these are the first projects in Canada more than one offtake deal for the same project, we are likely to see more such "deal stacking" in months and years to come.
Highlights from GLOBE Forum Prime Minister Justin Trudeau announced Canada’s new Emissions Reduction Plan, highlighting renewable energy and PPAs as key mechanisms to achieve Canada’s net-zero goals. Through having BRCC’s Buyers’ Breakfast embedded on the second day of the conference and engaging with attendees throughout the conference, our team was able to make many connections with existing and new potential buyers! Stay tuned as we continue to follow up on these connections and grow opportunities for PPAs in Canada.
HEADLINES
- What is a “just” transition and how do we achieve it? | Energy Justified podcast, Global Shapers Calgary | Interview with Nagwan Al-Guneid, BRC-Canada director
- MEGlobal and Capital Power Announce a 10-year Renewable Energy Agreement | Capital Power | Media release
- RBC, Shopify to Buy Power From Berkshire’s Canadian Wind Project | Bloomberg News
COMMUNITY SPOTLIGHT: Boost Energy Ventures, Inc.
Welcome to BRC-Canada, Boost Energy Ventures Inc.! Boost is BRCC’s newest intermediary company.
Boost is an advisory, analytics, and development firm focused on the electricity sector. Based in Calgary, Alberta, Boost supports renewable energy, energy storage, distributed energy, and hydrogen projects across Canada, the United States, and the United Kingdom. Their team provides PPA advisory services to buyers and sellers, as well as strategy, asset development support, market forecasting, transaction support, and market analytics services to a wide variety of institutional, corporate, municipal, and First Nations clients.