POWER March 2011 - 54

POWER IN CANADA
has over 240 MW of projects in development.
" In spite of the initial financial commitment,
a hydro plant boasts technological longevity
and economic durability-it is an attractive
and lucrative asset in terms of investment. It
is green, it is clean, and it ultimately becomes
very economical, " says Colin Cooligan,
president of Regional Power. His company's
award-winning Sechelt Creek generating station
exemplifies the measures being taken by
these developers to limit their environmental
impact and engage with indigenous communities
(Figure 5).
At the Sechelt development, a productive
salmon-spawning channel was successfully
installed, and the facility is used as a training
center for First Nation students who are eager
to participate in the industry. David Carter, executive
vice president of Regional Power, feels
that these measures are vital in order for the
industry to meet its potential: " The future for
hydro in Canada is fabulous. The forgiveness,
efficiency, and timelessness of the technology
is unsurpassable. It is the hardest business to
enter but by far the most attractive business to
be in for the long term. "
Bioenergy Edge. In addition to its drive
for additional hydro and wind, bioenergy
development is also encouraged in BC due
The Flow of Capital from Oil and Gas
Another energy trend in Alberta is the diversification of its oil and gas companies
into the renewable space. " It is not necessarily a case of capital leaving the oil and
gas sector, but of companies adding to their diversification, " explains David Williams,
managing director of investment banking and head of power and utilities at CIBC. " For
example, Suncor and Enbridge have both been making major investments in renewable
projects. I think you'll see more of that sort of investment activity as the returns on
these assets warrant the investment and it's seen as a positive thing to be doing. "
to the potential synergies with its long-established
pulp and paper industry. " Power in
biofuel is becoming increasingly important
in this province and across Canada, " says
Ulf Tryggvesson, executive vice president of
Pöyry (Vancouver) Inc. " At present, it's an
unutilized resource. There are large amounts
of biomass that are either being destroyed or
landfilled due to the lack of a market for it.
BC has the opportunity here to not only address
its power generation needs but to also
help maintain one of its oldest industries. "
Alberta Backs Fossil Technologies
Alberta has a population of 3.7 million, an
installed capacity of 12,900 MW, and a winter
peak of 10,300 MW. Since 1996, Alberta
has operated fully competitive wholesale and
retail electricity markets. " We operate the
only truly open market in Canada. We pay for
our electricity as we go, no debt is buried in
Crown Corporations, and we are doing it all
in a market without the natural advantage of
hydroelectricity or other cheap renewables, "
explains Ron Liepert, Alberta's Minster of Energy.
" If you have a mindset of free enterprise,
I don't think there's a better place to invest. "
Alberta's fossil fuel resources include
large reserves of crude oil and natural gas as
well as a vast reserve of coal. Coal production
in Alberta totaled 32.5 million metric
tons in 2008, and total coal reserves in the
province could amount to more than 30 billion
metric tons. Alberta generates the most
Watt we are.
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POWER March 2011

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