by Catie Owen | Sep 18, 2025 | Americas, Commercial & Industrial Solar
Canada’s solar sector is set for strong growth over the next quarter-century, according to a new market outlook from the Canadian Renewable Energy Association (CanREA) and Dunsky Energy + Climate Advisors.
Released on 16 September, Canada’s Renewable Energy Market Outlook: Wind. Solar. Storage presents the first nationwide forecast dedicated to these technologies.
The study highlights “surging electricity demand, increasing cost competitiveness and enabling policy frameworks” as factors positioning wind, solar and storage for rapid expansion.
Vittoria Bellissimo, CanREA’s President and CEO, said the report aims “to offer uniquely Canadian market intelligence to support informed decisions by electricity sector stakeholders, renewable energy and energy storage developers, investors and analysts.”
Although Canada currently ranks 24th worldwide for installed solar capacity, the report projects major gains.
Ahmed Hanafy of Dunsky noted that wind, solar and storage are expected to provide “more than 70% of all new electricity supply capacity deployed between 2025 and 2050,” with annual net investments estimated at $14 – 20bn.
Over the next decade, this could total $143 – 205bn and generate up to 350,000 full-time equivalent jobs.
Leonard Kula, CanREA’s Vice-President of Strategic Initiatives, emphasised the role of solar in decarbonising the grid. “It is going to happen, because solar energy and wind energy are the most affordable and quickly deployable technologies available anywhere in the world today,” he said.
He added that “grid operators increasingly recognise the value that energy storage can deliver in an evolving grid.”
Provincial developments vary. Hydro Québec plans to acquire 3,000 MW of solar power by 2035, alongside wind partnerships with First Nations and local communities. Ontario is expanding procurement for new generation, while Atlantic Canada hosts a range of emerging projects.
Alberta, however, faces “significant uncertainty” due to regulatory and market changes.
The report predicts greenhouse gas emissions from electricity could fall from more than 90 gCO₂/kWh in 2025 to as low as 16.1 gCO₂/kWh by 2035, reaching 10 gCO₂/kWh or below by mid-century.
by Catie Owen | Mar 10, 2025 | Storage
Canadian Solar has announced that its subsidiary e-STORAGE has secured Battery Supply Agreements and Long-Term Service Agreements (LTSA) for two major battery energy storage projects in the United States, developed by Aypa Power.
The agreements cover a 160 MW AC/806 MWh DC battery energy storage system (BESS) in California and a 200 MW AC/998 MWh DC BESS in Texas.
These projects will use approximately 370 SolBank 3.0 units, with construction scheduled to start in Q3 2025. Following commissioning, e-STORAGE will oversee maintenance and operations under a 20-year LTSA to ensure performance and reliability.
Colin Parkin, President of e-STORAGE, said: “We are proud to support Aypa Power in delivering utility-scale energy storage projects that will play a pivotal role in enhancing grid flexibility and reliability.
“These projects highlight the increasing role of battery storage in stabilising renewable energy supply, and we remain committed to driving innovation and delivering high-quality solutions that support a cleaner, more sustainable energy future.”
The projects are expected to improve grid resilience and support renewable energy integration in key U.S. markets.
by Catie Owen | Feb 12, 2025 | Commercial & Industrial Solar
Universal Kraft Canada Renewables, a joint venture between Korkia and Universal Kraft, has secured an initial USD $15m credit facility from US-based lender Crayhill Capital Management.
The facility, which can be expanded to up to $50m, will fund the development of 1,700 MW of solar projects in Alberta, Canada.
The funds will cover Universal Kraft Canada Renewables’ Generator Unit Owner Contribution (GUOC) requirements. In Alberta’s electricity market, the GUOC is a refundable payment to the Alberta Electric System Operator (AESO) from owners of generating units or aggregated generation facilities.
The GUOC encourages power generation near existing transmission infrastructure and is refunded over time based on the generator’s size, location, and performance.
Daniela Louback, head of Canadian business development at Universal Kraft, said: “The successful closing of this transaction validates the quality of our development work and portfolio, ensuring interconnection for our advanced projects.
“This achievement supports our portfolio’s growth and strategically positions us to meet the anticipated rise in renewable energy demand once we get past the market reforms.”
Kristina Sweet, Korkia’s Canadian country manager, added: “This strategic move underscores the company’s deep capabilities to bring meaningful and innovative solutions to market amidst a backdrop of significant reforms.
“With Crayhill’s support, we are well-positioned to accelerate the development of our projects, further cementing our contribution to Alberta’s renewable energy market.”
by Catie Owen | Jan 10, 2025 | Commercial & Industrial Solar
Press Release
UK-based global renewable energy company, Low Carbon, has announced that it has entered into a Power Purchase Agreement (PPA) with Deep Sky, the Quebec-based carbon removal project developer.
This latest partnership highlights Low Carbon‘s capability as a leading IPP producing large-scale renewable energy for a broad range of international customers.
The 10-year PPA will see 10 GWh (gigawatt hours) of renewable energy per annum from Low Carbon’s Lethbridge 1 solar project in Canada to power Deep Sky’s first facility in Alberta, Canada, called Deep Sky Alpha.
With this agreement, the solar project will generate enough clean electricity to power 100% of Deep Sky Alpha’s operations.
Earlier this year, Low Carbon announced a ten-year PPA with Lloyds Banking Group for 50 GWh of renewable energy from two of its UK solar farms, reflecting a growing trend of organisations seeking direct contracts with renewable energy generators as part of their climate change commitments.
Head of Power Management at Low Carbon, Marco Verspuij, said: “We are delighted to finalise this agreement with Deep Sky, enabling critical new renewable energy to support their landmark project.
“We expect that PPAs will continue to play a major role in helping drive the renewables revolution in the coming years as organisations explore innovative finance options that help reduce emissions from their energy usage and decarbonise the wider economy.”
Damien Steel, Deep Sky CEO, added: “We’re proud to work with Low Carbon to generate 100% new renewable power for our first carbon removal facility, Deep Sky Alpha.
“Securing renewable power for novel carbon dioxide removal projects is incredibly difficult, and we couldn’t be more excited to have Low Carbon as our partner in Alberta.”
[Image credit: Deep Sky]
by Catie Owen | Jul 29, 2024 | Commercial & Industrial Solar, Storage
Canadian Solar Inc., a global solar and energy storage company, has announced that its subsidiary, Recurrent Energy, has secured a 5-year €50m loan from the European Investment Bank (EIB) to support the development and construction of solar energy projects in Italy.
This funding aligns with the EIB’s commitment to Renewable Energy, Climate Action, and Social and Economic Cohesion, and will enhance Recurrent Energy’s contribution to Italy’s clean energy transition. The goal behind the loan is also to support Europe’s goals of reducing emissions and improving energy independence.
Ismael Guerrero, CEO of Recurrent Energy, said: “We are excited to extend our banking relationship with the EIB. This transaction is a significant milestone in our goal to become one of the largest Independent Power Producers (IPPs) globally.
It reflects our commitment to fostering a more sustainable economy in Europe and beyond. We look forward to a long-term partnership with the EIB to advance our mutual goals.”
Recurrent Energy’s progress since expanding into Italy in 2017 has included the recent launch of its 51 MW solar PV project in Anguillara, Marsala, Sicily.
The company’s European portfolio now includes 10.3GW of solar PV and 32.8GWh of battery energy storage.
