Alberta
Alberta commits to 1.2 Billion in new Wind Projects
From the Province of Alberta
Wind projects create jobs, Indigenous partnerships
Private companies are partnering with First Nations to invest around $1.2 billion in renewable energy projects in Alberta, which create new jobs and continue with record-setting low prices for Albertans.
Minister Phillips announces five new wind projects as part of Alberta’s Renewable Electricity Program.
The five successful projects are made possible through the latest phase of the Alberta government’s Renewable Electricity Program. They include investments from Albertan companies, as well as from new investors from outside the province, with companies from Ontario and France.
In total, the new developments will create about 1,000 jobs and generate about 760 megawatts of affordable renewable electricity – enough to power nearly 300,000 homes.
“Our made-in-Alberta plan is working to once again turn Alberta’s renewable energy resources into new jobs and investment in communities across the province, while producing the lowest-cost power available for Albertans. These major private investments in southern Alberta wind projects also bring important professional service opportunities to downtown Calgary and new economic opportunities for Indigenous communities, making it a win-win for all Albertans.”
Three of the wind projects are private-sector partnerships with First Nations, which include a minimum 25 per cent Indigenous equity component that will help create jobs and new economic benefits. Additional opportunities may include skills training and educational opportunities.
“We sincerely thank Premier Rachel Notley and the current government for opening the door for Indigenous partnerships with industry in this program. This is an important first step in economic reconciliation that helps our children and their children prosper alongside other Albertans for generations to come. We’re greatly looking forward to partnering with EDF Renewables, as they recognize and respect the importance of our traditional and ancestral lands. I also want to thank our partners at Indigena Capital, who assist us in empowering our rights and resources by sourcing the capital we need to be able to profit from our participation in initiatives like this.”
In addition to new local jobs and contracting, the five projects will bring an estimated $175 million in rural benefits over the life of the projects, including landowner payments and municipal revenues.
The weighted average price of 3.9 cents per kilowatt hour for the latest round of projects is just shy of the Canadian record-low price achieved by Alberta in 2017 and continues to be among the lowest in the country, including less than half the price of a recent procurement in Ontario.
“For over 100 years we have produced reliable power for Albertans, and we are pleased to have been awarded the contract to supply Albertans with 20 years of renewable energy. The Renewable Electricity Program contract and the Windrise project enable TransAlta to proudly continue to invest in and grow in Alberta.”
Each of these projects are expected to begin construction in 2020 and be fully operational by mid-2021:
- TransAlta Corporation (Alberta-based) will build the 207-megawatt Windrise project, southwest of Fort MacLeod.
- EDF Renewables Canada Inc. (subsidiary of France-based company) will build the 202-megawatt Cypress Wind Power project near Medicine Hat in partnership with the Kainai First Nation.
- Capstone Infrastructure Corporation (Ontario-based) will build the 48-megawatt Buffalo Atlee wind farms near Brooks in partnership with the Sawridge First Nation.
- Potentia Renewables Inc. (Ontario-based) will build the 113-megawatt Stirling Wind project near Lethbridge in partnership with the Paul First Nation, as well as Calgary-based Greengate Power Corporation.
- Potentia Renewables Inc. will build two phases of the Jenner Wind Project near Brooks, for a total of 193 megawatts.
In total, Alberta’s Renewable Electricity Program will support the development of 5,000 megawatts of renewable electricity to reach a target of 30 per cent renewable energy by 2030 while creating more than 7,000 jobs for Albertans.
Support for the Renewable Electricity Program is made possible by reinvesting revenues from carbon pricing under the Climate Leadership Plan. The program is not funded from consumer power bills in any way.
Additional quotes
Government of Alberta:
“This is a historic announcement, showing our government’s true commitment to partnering with Indigenous communities to create new jobs and economic opportunities. First Nations have played a key role in Alberta’s renewable electricity sector, and this is only a first step in a meaningful, long-term relationship of developing green power with Indigenous communities.”
“Alberta isn’t just a proud leader in oil and gas; we’re a leader in renewable energy, too. Once again, these low prices are beyond expectation, showing that our made-in-Alberta plan is getting results. We’re making life better by creating new jobs and attracting investment from around the world, including homegrown Alberta companies.”
Support from economic development organizations:
“Calgary is Canada’s energy capital, with the expertise, skills and entrepreneurial spirit to build world-class projects in solar, oil, wind, gas, clean tech and beyond. Our diversity of resources is the definition of true energy leadership and with Alberta offering the some of the strongest opportunities for renewable energy development in North America, Calgary is the location of choice for Canadian and international renewable energy developers.”
“We’re proud that the first utility-scale wind farms in Canada were built in southern Alberta back in the 1990s, and since then, have been an important source of low-carbon electricity and a key economic driver of our region. Today’s news is another great example of how wind energy development has positive impacts for landowners and communities by providing new revenue, creating new jobs and offering generations of opportunity for southern Albertans and people across the province.”
First Nations involved in this program:
“The current Alberta government should be credited for fostering relationships between Indigenous communities, industry and non-profit organizations like ours to build opportunities that benefit all Albertans. This program is an important entry point into Alberta’s renewable energy sector, providing much-needed revenue streams and employment opportunities for First Nations while generating economic and environmental benefits for the province as a whole. FNPA is pleased to have been part of the discussions that formed the foundation for where we are today, and we believe the knowledge gained will lead to even greater success for First Nations in the future.”
“We share the pleasure of the announcement with our partners, Capstone. This project is a great step for Sawridge First Nation as it helps us move forward in our continued endeavors towards self-reliance, while balancing the need for energy and protecting Mother Earth for our future generations.”
Wind energy sector support:
“With this announcement of five low-cost wind energy projects, it’s clear that wind energy is well positioned to provide the affordable, emission-free electricity needed to meet Alberta’s ambitious renewable electricity targets. It’s also clear from the number of companies bidding into the procurement process that wind energy developers continue to prioritize Alberta as a destination for new investment.”
“EDF Renewables is very pleased to be investing in Alberta, which, thank you to this government’s commitment, has made the province one of North America’s most competitive and successful markets for renewable energy. We’re proud to be partnering with the Kainai First Nation (Blood Tribe) on the Cypress Wind Project. It will create hundreds of well-paying jobs, invest millions into Cypress County and Alberta’s economy, while generating affordable renewable electricity for Albertans.”
“We are excited about the successful collaboration of Potentia and our excellent local development partners. Alberta is an attractive investment environment and we are pleased to invest almost $500 million of capital into these long-term projects. We look forward to continuing to work with the Government of Alberta, the Paul First Nation and our host communities and landowners to deliver clean power to the Alberta grid, along with the jobs and local economic growth that accompany projects like these.”
“We are extremely pleased to be investing in Alberta with our partner, the Sawridge First Nation. The development, construction, and operations of the Buffalo Atlee Wind Farm will provide significant environmental benefits, create jobs, drive local economic activity and deliver excellent value to Alberta ratepayers. We look forward to completing this exciting project in Alberta, which has become a destination of choice for renewable energy investment.”
From the Fraser Institute
By Tegan Hill
Amid the tariff war, the price of West Texas Intermediate oil—a common benchmark—recently dropped below US$60 per barrel. Given every $1 drop in oil prices is an estimated $750 million hit to provincial revenues, if oil prices remain low for long, there could be big implications for Alberta’s budget.
The Smith government already projects a $5.2 billion budget deficit in 2025/26 with continued deficits over the following two years. This year’s deficit is based on oil prices averaging US$68.00 per barrel. While the budget does include a $4 billion “contingency” for unforeseen events, given the economic and fiscal impact of Trump’s tariffs, it could quickly be eaten up.
Budget deficits come with costs for Albertans, who will already pay a projected $600 each in provincial government debt interest in 2025/26. That’s money that could have gone towards health care and education, or even tax relief.
Unfortunately, this is all part of the resource revenue rollercoaster that’s are all too familiar to Albertans.
Resource revenue (including oil and gas royalties) is inherently volatile. In the last 10 years alone, it has been as high as $25.2 billion in 2022/23 and as low as $2.8 billion in 2015/16. The provincial government typically enjoys budget surpluses—and increases government spending—when oil prices and resource revenue is relatively high, but is thrown into deficits when resource revenues inevitably fall.
Fortunately, the Smith government can mitigate this volatility.
The key is limiting the level of resource revenue included in the budget to a set stable amount. Any resource revenue above that stable amount is automatically saved in a rainy-day fund to be withdrawn to maintain that stable amount in the budget during years of relatively low resource revenue. The logic is simple: save during the good times so you can weather the storm during bad times.
Indeed, if the Smith government had created a rainy-day account in 2023, for example, it could have already built up a sizeable fund to help stabilize the budget when resource revenue declines. While the Smith government has deposited some money in the Heritage Fund in recent years, it has not created a dedicated rainy-day account or introduced a similar mechanism to help stabilize provincial finances.
Limiting the amount of resource revenue in the budget, particularly during times of relatively high resource revenue, also tempers demand for higher spending, which is only fiscally sustainable with permanently high resource revenues. In other words, if the government creates a rainy-day account, spending would become more closely align with stable ongoing levels of revenue.
And it’s not too late. To end the boom-bust cycle and finally help stabilize provincial finances, the Smith government should create a rainy-day account.
From the Fraser Institute
By Tegan Hill and Austin Thompson
In 2024, construction started on 47,827 housing units—the most since 48,336 units in 2007 when population growth was less than half of what it was in 2024.
Alberta has long been viewed as an oasis in Canada’s overheated housing market—a refuge for Canadians priced out of high-cost centres such as Vancouver and Toronto. But the oasis is starting to dry up. House prices and rents in the province have spiked by about one-third since the start of the pandemic. According to a recent Maru poll, more than 70 per cent of Calgarians and Edmontonians doubt they will ever be able to afford a home in their city. Which raises the question: how much longer can this go on?
Alberta’s housing affordability problem reflects a simple reality—not enough homes have been built to accommodate the province’s growing population. The result? More Albertans competing for the same homes and rental units, pushing prices higher.
Population growth has always been volatile in Alberta, but the recent surge, fuelled by record levels of immigration, is unprecedented. Alberta has set new population growth records every year since 2022, culminating in the largest-ever increase of 186,704 new residents in 2024—nearly 70 per cent more than the largest pre-pandemic increase in 2013.
Homebuilding has increased, but not enough to keep pace with the rise in population. In 2024, construction started on 47,827 housing units—the most since 48,336 units in 2007 when population growth was less than half of what it was in 2024.
Moreover, from 1972 to 2019, Alberta added 2.1 new residents (on average) for every housing unit started compared to 3.9 new residents for every housing unit started in 2024. Put differently, today nearly twice as many new residents are potentially competing for each new home compared to historical norms.
While Alberta attracts more Canadians from other provinces than any other province, federal immigration and residency policies drive Alberta’s population growth. So while the provincial government has little control over its population growth, provincial and municipal governments can affect the pace of homebuilding.
For example, recent provincial amendments to the city charters in Calgary and Edmonton have helped standardize building codes, which should minimize cost and complexity for builders who operate across different jurisdictions. Municipal zoning reforms in Calgary, Edmonton and Red Deer have made it easier to build higher-density housing, and Lethbridge and Medicine Hat may soon follow suit. These changes should make it easier and faster to build homes, helping Alberta maintain some of the least restrictive building rules and quickest approval timelines in Canada.
There is, however, room for improvement. Policymakers at both the provincial and municipal level should streamline rules for building, reduce regulatory uncertainty and development costs, and shorten timelines for permit approvals. Calgary, for instance, imposes fees on developers to fund a wide array of public infrastructure—including roads, sewers, libraries, even buses—while Edmonton currently only imposes fees to fund the construction of new firehalls.
It’s difficult to say how long Alberta’s housing affordability woes will endure, but the situation is unlikely to improve unless homebuilding increases, spurred by government policies that facilitate more development.
Tegan Hill
Director, Alberta Policy, Fraser Institute
Austin Thompson
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