Developing renewables in Canada

In the exciting and promising Canadian market for renewable energies, reconcept has been active as an investor and project developer since 2014. Our office in Toronto is working on green field projects, the acquisition and securing of areas for the development of photovoltaic and wind farms. In addition, we advise indigenous communities, Canada's First Nations, on the project management of an independent power supply based on renewable energies. Also, some hydro power plants held by reconcept are managed by our Canadian team.

Canada is a country of extremes, in many respects: Canada is the second largest country in the world, about 28 times the size of Germany, and is one of the world's richest countries in natural resources. The most important renewable energy source is hydropower. Its expansion of renewable energy is a key component of Canada's climate protection strategy. Canada intends to make greater use of its potential for wind and solar energy as well as tidal power.

Canada has legislated its goal of climate neutrality by 2050, and in June 2021 set staggered targets for this. By 2030, greenhouse gas emissions are to be reduced by at least 40 to 45 percent compared to 2005. Important national measures include the phasing out of coal by 2030 and the development of renewable energy sources.

With only 6 percent of the electricity mix, Canada has a need for expansion, especially in wind and solar. The current government wants to expand wind and solar energy, as well as kinetic energy from the tidal range of the Bay of Fundy, to meet the growing demand for electricity. An investment program by the Canadian Department of Resources (NRCan) is supporting projects dedicated to this goal with CAD 750 million. If Canada is serious about pursuing its climate goals, there is no way around wind and solar energy as well as tidal power. The Canadian market for these technologies is expected to develop promisingly in the medium term.