CALGARY, Alberta (March 27, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the leading generative AI and energy-dedicated SaaS company, is shedding light on the impact of ending a Feb. 28 moratorium by Alberta Premier Danielle Smith that also included a host of new restrictions on renewable power installations.
“Enverus identified nearly 60 planned renewable projects that are at risk of becoming restricted for development due to Alberta’s new regulations. That includes more than 2 gigawatts of wind projects and more than 5.6 gigawatts of planned solar projects,” said Ryan Luther, director at EIR. “The new restrictions pose a major setback to renewable development in the province and further increase the policy risk of investing in Canadian energy.”
Key takeaways:
- Alberta paused the approval last year of significant new renewable energy projects due to grid reliability concerns and land use issues. This moratorium shut down investments in the sector and posed challenges to the clean energy goals of the federal Liberal government.
- The end of this moratorium introduced new restrictions to combat some of these issues. The two most notable limits are a 35-km buffer zone around parks and protected areas and an “agriculture-first” policy that will no longer permit renewable generation developments on Class 1 and 2 lands unless the proponent can demonstrate the ability for both crops and/or livestock to coexist.
- Enverus Intelligence Research has identified 57 pre-construction queued renewable projects and their owners that have now been classified as at high risk because of the new restrictions.
EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research, Energy Transition Research and Enverus Foundations® Power & Renewables.
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About Enverus Intelligence Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Learn more at Enverus.com.
