BluEarth Renewables draws investors

By Globe and Mail


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The private equity arm of Ontario Teachers' Pension Plan is plowing $75-million into startup BluEarth Renewables Inc., as part of a joint venture with ARC Financial Corp.

The level of investment isn't jaw-dropping, but it appears that renewable energy is back on the playing field. Clean tech and green energy were all the rage before the market crashed, and it looks like investors are becoming more lenient with their portfolios and open to hearing these stories again.

BluEarth Renewables isn't just any company. The management behind it came from former independent renewable energy player Canadian Hydro Developers Inc., which was bought by TransAlta Corp. BluEarth is run by Kent Brown, Canadian Hydro's former chief executive officer and the acquired company's co-founders, John and Ross Keating, are executive advisers.

Before Teachers' entered the fray, BluEarth had about $90-million in capital, mainly from ARC Financial. With the new investor on board, the company is looking to buy assets that are already generating power or close to completion.

As for geography, BluEarth previously said Alberta is one region the company will avoid, because the market is deregulated and prices are much too depressed right now.

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Hydro One Q2 profit plunges 23% as electricity revenue falls, costs rise

Hydro One Q2 Earnings show lower net income and EPS as mild weather curbed electricity demand; revenue missed Refinitiv estimates, while tree-trimming costs rose and the dividend remained unchanged for Ontario's grid operator.

 

Key Points

Hydro One Q2 earnings fell to $155M, EPS $0.26, revenue $1.41B; costs rose, demand eased, dividend held at $0.2415.

✅ Net income $155M; EPS $0.26 vs $0.34 prior year

✅ Revenue $1.41B; missed $1.44B estimate

✅ Dividend steady at $0.2415 per share

 

Hydro One Ltd.'s (H.TO 0.25%) second-quarter profit fell by nearly 23 per cent from last year to $155 million as the electricity utility reported spending more on tree-trimming work due to milder temperatures that also saw customers using less power, notwithstanding other periods where a one-time court ruling gain shaped quarterly results.

The Toronto-based company - which operates most of Ontario's power grid - and whose regulated rates are subject to an OEB decision, says its net earnings attributable to shareholders dropped to 26 cents per share from 34 cents per share when Hydro One had $200 million in net income.

Adjusted net income was also 26 cents per share, down from 33 cents per diluted share in the second quarter of 2018, while executive pay, including the CEO salary, drew public scrutiny during the period.

Revenue was $1.41 billion, down from $1.48 billion, while revenue net of purchased power was $760 million, down from $803 million, and across the sector, Manitoba Hydro's debt has surged as well.

Separately, Ontario introduced a subsidized hydro plan and tax breaks to support economic recovery from COVID-19, which could influence consumption patterns.

Analysts had estimated $1.44 billion of revenue and 27 cents per share of adjusted income, and some investors cite too many unknowns in evaluating the stock, according to financial markets data firm Refinitiv.

The publicly traded company, which saw a share-price drop after leadership changes and of which the Ontario government is the largest shareholder, says its quarterly dividend will remain at 24.15 cents per share for its next payment to shareholders in September.

 

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Louisiana power grid needs 'complete rebuild' after Hurricane Laura, restoration to take weeks

Louisiana Grid Rebuild After Hurricane Laura will overhaul transmission lines and distribution networks in Lake Charles, as Entergy restores power after catastrophic outages, replacing poles, transformers, and spans to stabilize critical electric infrastructure.

 

Key Points

Entergy's project replacing transmission and distribution in Lake Charles to restore power after the Cat 4 storm

✅ 1,000+ transmission structures and 6,637 poles damaged

✅ Entergy targets first energized line into Lake Charles in 2 weeks

✅ Full rebuild of Calcasieu and Cameron lines will take weeks

 

The main power utility for southwest Louisiana will need to "rebuild" the region's grid after Hurricane Laura blasted the region with 150 mph winds last week, top officials said.

The Category 4 hurricane made landfall last Thursday just south of Lake Charles near Cameron, damaging or destroying thousands of electric poles as well as leaving "catastrophic damages" to the transmission system for southwest Louisiana, similar to impacts seen during Typhoon Mangkhut outages in Hong Kong that left many without electricity.

“This is not a restoration," Entergy Louisiana president and CEO Phillip May said in a statement. "It’s almost a complete rebuild of our transmission and distribution system that serves Calcasieu and Cameron parishes.”

According to Entergy, all nine transmission lines that deliver power into the Lake Charles area are currently out service due to storm damage to multiple structures and spans of wire.

The transmission system is a critical component in the delivery of power to customers’ homes, and failures at substations can trigger large outages, as seen in Los Angeles station fire outage reported recently, according to the company.

Of those structures impacted, many were damaged "beyond repair" and require complete replacement.

Broken electrical poles are seen in Holly Beach, La., in the aftermath of Hurricane Laura, Saturday, Aug. 29, 2020. (AP Photo/Gerald Herbert)

Entergy said the damage in southwest Louisiana includes 1,000 transmission structures, 6,637 broken poles, 2,926 transformers and 338 miles of downed distribution wire, highlighting why proactive reliability investments in Hamilton are being pursued by other utilities.

Some 8,300 workers are now in the area working to rebuild the transmission lines, but Entergy said that it will be about two to three weeks before power is available to customers in the Lake Charles area, a timeline similar to Tennessee outages after severe storms reported recently in other states.

"Restoring power will take longer to customers in inaccessible areas of the region," the company said. "While not impacting the expected restoration of service to residential customers, initial estimates are it will take weeks to rebuild all transmission lines in Calcasieu and Cameron parishes."

Entergy Louisiana expects to energize the first of its transmission lines into Lake Charles in two weeks.

“We understand going without power for this extended period will be challenging, and this is not the news customers want to hear. But we have thousands of workers dedicated to rebuilding our grid as quickly as they safely can to return some normalcy to our customers’ lives,” May said.

According to power outage tracking website poweroutage.us, over 164,000 customers remain without service in Louisiana as of Thursday morning, while a Carolinas outage update shows hundreds of thousands affected there as well.

On Wednesday, the Edison Electric Institute, the association of investor-owned electric companies in the U.S., said in a statement to FOX Business that electricity has been restored to approximately 737,000 customers, or 75% of those impacted by the storm across Louisiana, eastern Texas, Mississippi, and Arkansas, even as utilities adapt to climate change to improve resilience.

At least 29,000 workers from 29 states, the District of Columbia and Canada are working to restore power in the region, according to the Electricity Subsector Coordinating Council (ESCC), which is coordinating efforts from government and power industry.

“The transmission loss in Louisiana is significant, with more than 1,000 transmission structures damaged or destroyed by the storm," Department of Energy (DOE) Deputy Secretary Mark Menezes said in a statement. Rebuilding the transmission system is essential to the overall restoration effort and will take weeks given the massive scale and complexity of the work. We will continue to coordinate closely to ensure the full capabilities of the industry and government are marshaled to rebuild this critical infrastructure as quickly as possible.” 

At least 17 deaths in Louisiana have been attributed to the storm; more than half of those killed by carbon monoxide poisoning from the unsafe operation of generators, and residents are urged to follow generator safety tips to reduce these risks. Two additional deaths were verified on Wednesday in Beauregard Parish, which health officials said were due to heat-related illness following the storm.

 

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Alberta Faces Challenges with Solar Energy Expansion

Alberta Solar Energy Expansion confronts high installation costs, grid integration and storage needs, and environmental impact, while incentives, infrastructure upgrades, and renewable targets aim to balance reliability, land use, and emissions reductions provincewide.

 

Key Points

Alberta Solar Energy Expansion is growth in solar tempered by costs, grid limits, environmental impact, and incentives.

✅ High capex and financing challenge utility-scale projects

✅ Grid integration needs storage, transmission, and flexibility

✅ Site selection must mitigate land and wildlife impacts

 

Alberta's push towards expanding solar power is encountering significant financial and environmental hurdles. The province's ambitious plans to boost solar power generation have been met with both enthusiasm and skepticism as stakeholders grapple with the complexities of integrating large-scale solar projects into the existing energy framework.

The Alberta government has been actively promoting solar energy as part of its strategy to diversify the energy mix in a province that is a powerhouse for both green energy and fossil fuels today and reduce greenhouse gas emissions. Recent developments have highlighted the potential of solar power to contribute to Alberta's clean energy goals. However, the path forward is fraught with challenges related to costs, environmental impact, and infrastructure needs.

One of the primary issues facing the solar energy sector in Alberta is the high cost of solar installations. Despite decreasing costs for solar technology in recent years, the upfront investment required for large-scale solar farms remains substantial, even as some facilities have been contracted at lower cost than natural gas in Alberta today. This financial barrier has led to concerns about the economic viability of solar projects and their ability to compete with other forms of energy, such as natural gas and oil, which have traditionally dominated Alberta's energy landscape.

Additionally, there are environmental concerns associated with the development of solar farms. While solar energy is considered a clean and renewable resource, the construction of large solar installations can have environmental implications. These include potential impacts on local wildlife habitats, land use changes, where approaches like agrivoltaics can co-locate farming and solar, and the ecological effects of large-scale land clearing. As solar projects expand, balancing the benefits of renewable energy with the need to protect natural ecosystems becomes increasingly important.

Another significant challenge is the integration of solar power into Alberta's existing energy grid. Solar energy production is variable and dependent on weather conditions, especially with Alberta's limited hydro capacity for flexibility, which can create difficulties in maintaining a stable and reliable energy supply. The need for infrastructure upgrades and energy storage solutions is crucial to address these challenges and ensure that solar power can be effectively utilized alongside other energy sources.

Despite these challenges, the Alberta government remains committed to advancing solar energy as a key component of its renewable energy strategy. Recent initiatives include financial incentives and support programs aimed at encouraging investment in solar projects and supporting a renewable energy surge that could power thousands of jobs across Alberta today. These measures are designed to help offset the high costs associated with solar installations and make the technology more accessible to businesses and homeowners alike.

Local communities and businesses are also playing a role in the growth of solar energy in Alberta. Many are exploring opportunities to invest in solar power as a means of reducing energy costs and supporting sustainability efforts and, increasingly, to sell renewable energy into the market as demand grows. These smaller-scale projects contribute to the overall expansion of solar energy and demonstrate the potential for widespread adoption across the province.

The Alberta government has also been working to address the environmental concerns associated with solar energy development. Efforts are underway to implement best practices for minimizing environmental impacts and ensuring that solar projects are developed in an environmentally responsible manner. This includes conducting environmental assessments and working with stakeholders to address potential issues before projects are approved and built.

In summary, while Alberta's solar energy initiatives hold promise for advancing the province's clean energy goals, they are also met with significant financial and environmental challenges. Addressing these issues will be crucial to the successful expansion of solar power in Alberta. The government's ongoing efforts to support solar projects through incentives and infrastructure improvements, coupled with responsible environmental practices, will play a key role in determining the future of solar energy in the province.

 

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Strong Winds Knock Out Power Across Miami Valley

Miami Valley Windstorm Power Outages disrupted thousands as 60 mph gusts toppled trees, downed power lines, and damaged buildings. Utility crews and emergency services managed debris, while NWS alerts warned of extended restoration.

 

Key Points

Region-wide power losses from severe winds in the Miami Valley, causing damage, debris, and restoration.

✅ 60 mph gusts downed trees, snapped lines, blocked roads

✅ Crews from DP&L worked extended shifts to restore service

✅ NWS issued wind advisories; schools, businesses closed

 

On a recent day, powerful winds tore through the Miami Valley, causing significant disruption across the region. The storm, which was accompanied by gusts reaching dangerous speeds, led to windstorm power outages affecting thousands of homes and businesses. As trees fell and power lines were snapped, many residents found themselves without electricity for hours, and in some cases, even days.

The high winds, which were part of a larger weather system moving through the area, left a trail of destruction in their wake. In addition to power outages, there were reports of storm damage to buildings, vehicles, and other structures. The force of the wind uprooted trees, some of which fell on homes and vehicles, causing significant property damage. While the storm did not result in any fatalities, the destruction was widespread, with many communities experiencing debris-filled streets and blocked roads.

Utility companies in the Miami Valley, including Dayton Power & Light, quickly mobilized crews, similar to FPL's storm response in major events, to begin restoring power to the affected areas. However, the high winds presented a challenge for repair crews, as downed power lines and damaged equipment made restoration efforts more difficult. Many customers were left waiting for hours or even days for their power to be restored, and some neighborhoods were still experiencing outages several days after the storm had passed.

In response to the severe weather, local authorities issued warnings to residents, urging them to stay indoors and avoid unnecessary travel. Wind gusts of up to 60 miles per hour were reported, making driving hazardous, particularly on bridges and overpasses, similar to Quebec windstorm outages elsewhere. The National Weather Service also warned of the potential for further storm activity, advising people to remain vigilant as the system moved eastward.

The impact of the storm was felt not only in terms of power outages but also in the strain it placed on emergency services. With trees blocking roads and debris scattered across the area, first responders were required to work quickly and efficiently to clear paths and assist those in need. Many residents were left without heat, refrigeration, and in some cases, access to medical equipment that relied on electricity.

Local schools and businesses were also affected by the storm. Many schools had to cancel classes, either due to power outages or because roads were impassable. Businesses, particularly those in the retail and service sectors, faced disruptions in their operations as they struggled to stay open without power amid extended outages that lingered, or to address damage caused by fallen trees and debris.

In the aftermath of the storm, Miami Valley residents are working to clean up and assess the damage. Many homeowners are left dealing with the aftermath of tree removal, property repairs, and other challenges. Meanwhile, local governments are focusing on restoring infrastructure, as seen after Toronto's spring storm outages in recent years, and ensuring that the power grid is secured to prevent further outages.

While the winds have died down and conditions have improved, the storm’s impact will be felt for weeks to come, reflecting Florida's weeks-long restorations after severe storms. The region will continue to recover from the damage, but the event serves as a reminder of the power of nature and the resilience of communities in the face of adversity. For residents affected by the power outages, recovery will require patience as utility crews and local authorities work tirelessly to restore normalcy.

Looking ahead, experts are urging residents to prepare for the next storm season by ensuring that they have emergency kits, backup generators, and contingency plans in place. As climate change contributes to more extreme weather events, it is likely that storms of this magnitude will become more frequent. By taking steps to prepare in advance, communities across the Miami Valley can better handle whatever challenges come next.

 

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U.S. Renewable and Clean Energy Industries Set Sights on Market Majority

U.S. Majority Renewables by 2030 targets over half of electricity from wind, solar, hydropower, and energy storage, enabling a resilient, efficient grid, deep carbon reductions, fair market rules, and job growth across regions.

 

Key Points

A joint industry pledge for over 50% U.S. power from wind, solar, hydropower, and storage by 2030.

✅ Joint pledge by AWEA, SEIA, NHA, and ESA for a cleaner grid

✅ Focus on resilience, efficiency, affordability, and fair competition

✅ Storage enables flexibility to integrate variable renewables

 

Within a decade, more than half of the electricity generated in the U.S. will come from clean, renewable resources, with analyses indicating that wind and solar could meet 80% of U.S. electricity demand, supported by energy storage, according to a joint commitment today from the American wind, solar, hydropower, and energy storage industries. The American Wind Energy Association (AWEA), Solar Energy Industries Association (SEIA), National Hydropower Association (NHA), and Energy Storage Association (ESA) have agreed to actively collaborate across their industry segments to achieve this target. 

The four industries have released a set of joint advocacy principles that will enable them to realize this bold vision of a majority renewables grid. Along with increased collaboration, these shared principles include building a more resilient, efficient, sustainable, and affordable grid; achieving carbon reductions; and advancing greater competition through electricity market reforms and fair market rules. Each of these areas is critical to attaining the shared vision for 2030.  

The leaders of the four industry associations gathered to announce the shared vision, aligned with a broader 100% renewables pathway pursued nationwide, during the first CLEANPOWER annual conference for businesses across the renewable and clean energy spectrum. 

American Wind Energy Association 

"This collaborative promise sets the stage to deliver on the American electric grid of the future powered by wind, solar, hydropower, and storage," said Tom Kiernan, CEO of the American Wind Energy Association. "Market opportunities for projects that include a mix of technologies have opened up that didn't exist even a few years ago. And demand is growing for integrated renewable energy options. Individually and cooperatively, these sectors will continue growing to meet that demand and create hundreds of thousands of new jobs to strengthen economies from coast to coast, building a better, cleaner tomorrow. In the face of significant challenges the country is currently facing across pandemic response, economic, climate and social injustice problems, we are prepared to help lead toward a healthier and more equitable future."

Solar Energy Industries Association

"These principles are just another step toward realizing our vision for a Solar+ Decade," said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. "In the face of this dreadful pandemic, our nation must chart a path forward that puts a premium on innovation, jobs recovery and a smarter approach to energy generation, reflecting expected solar and storage growth across the market. The right policies will make a growing American economy fueled by clean energy a reality for all Americans."

National Hydropower Association 

"The path towards an affordable, reliable, carbon-free electricity grid, supported by an ongoing grid overhaul for renewables, starts by harnessing the immense potential of hydropower, wind, solar and storage to work together," said Malcolm Woolf, President and CEO of the National Hydropower Association. "Today, hydropower and pumped storage are force multipliers that provide the grid with the flexibility needed to integrate other renewables onto the grid. By adding new generation onto existing non-powered dams and developing 15 GW of new pumped storage hydropower capacity, we can help accelerate the development of a clean energy electricity grid."

Energy Storage Association 

"We are pleased to join forces with our clean energy friends to substantially reduce carbon emissions by 2030, guided by practical decarbonization strategies, building a more resilient, efficient, sustainable, and affordable grid for generations to come," said ESA CEO Kelly Speakes-Backman. "A majority of generation supplied by renewable energy represents a significant change in the way we operate the grid, and the storage industry is a fundamental asset to provide the flexibility that a more modern, decarbonized grid will require. We look forward to actively collaborating with our colleagues to make this vision a reality by 2030."

 

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Canada in top 10 for hydropower jobs, but doesn't rank on other renewables

Canada Renewable Energy Jobs rank top 10 in hydropower, says IRENA, but trail in solar PV, wind power, and liquid biofuels; clean tech growth, EV manufacturing, and Canada Infrastructure Bank funding signal broader carbon-neutral opportunities.

 

Key Points

Canada counts 61,130 clean energy roles, top 10 in hydropower, with potential in solar, wind, biofuels, and EV manufacturing.

✅ 61,130 clean energy jobs in Canada per IRENA

✅ Top 10 share in hydropower employment

✅ Growth expected in solar, wind, biofuels, and EVs

 

Canada has made the top 10 list of countries for the number of jobs in hydropower, but didn’t rank in three other key renewable energy technologies, according to new international figures.

Although Canada has only two per cent of the global workforce, it had one of the 10 largest slices of the world’s jobs in hydropower in 2019, says the Abu Dhabi-based International Renewable Energy Agency (IRENA)

Canada didn’t make IRENA’s other top-10 employment lists, for solar photovoltaic (PV) technology, where solar power lags by international standards, liquid biofuels or wind power, released Sept. 30. Figures from the agency show the whole sector represents 61,130 jobs across Canada, or 0.5 per cent of the world’s 11.5 million jobs in renewables.

The numbers show Canada needs to move faster to minimize the climate crisis, including by joining trade blocs that put tariffs on high-carbon goods, argued the Victoria-based BC Sustainable Energy Association after reviewing IRENA’s report. The Canadian Renewable Energy Association also said it showed the country has untapped job creation potential, even as growth projections were scaled back after Ontario scrapped a clean energy program.

But other clean tech advocates say there’s more to the story. When tallying clean energy jobs, it's worth a broader look, Clean Energy Canada argued, pointing to the recent Ford-Unifor deal that includes a $1.8-billion commitment to produce electric vehicles in Oakville, Ont.

Natural Resources Minister Seamus O'Regan’s office also pointed out the renewables employment figures from IRENA are proportional to global population. “While Canada's share of the global clean energy job market is in line with our population size, we produce almost 2.7 per cent of the world’s total primary renewable energy supply. As only 0.5 per cent of the global population, we punch above our weight,” said O'Regan's press secretary, Ian Cameron.

Canada joined IRENA in January 2019 and the country has been described by the association as an “important market” for renewables over the long term.

On Thursday, Prime Minister Justin Trudeau announced a new $10-billion “Growth Plan” to be run by the Canada Infrastructure Bank that would include “$2.5 billion for clean power to support renewable generation and storage and to transmit clean electricity between provinces, territories, and regions, including to northern and Indigenous communities.” The infrastructure bank's plan is expected to create 60,000 jobs, the government said, and in Alberta an Alberta renewables surge could power 4,500 jobs as projects scale up.

World ‘building the renewable energy revolution now’

A powerful renewables sector is not just about job creation. It is also imperative if we are to meet global climate objectives, according to the Intergovernmental Panel on Climate Change. Renewable energy sources have to make up at least a 63 per cent share of the global electricity market by mid-century to battle the more extreme effects of climate change, it said.

“The IRENA report shows that people all over of the world are building the renewable energy revolution now,” said Tom Hackney, policy adviser for the BC Sustainable Energy Association.

“Many people in Canada are doing so, too. But we need to move faster to minimize climate change. For example, at the level of trade policy, a great idea would be to develop low-carbon trading blocs that put tariffs on goods with high embodied carbon emissions.”

Canadian Renewable Energy Association president and CEO Robert Hornung said the IRENA jobs review highlights “significant job creation potential” in Canada. As governments explore how to stimulate economic recovery from the impact of the COVID-19 pandemic, said Hornung, it's important to “capitalize on Canada's untapped renewable energy resources.”

In Canada, 82 per cent of the electricity grid is already non-emitting, noted Sarah Petrevan, policy director for Clean Energy Canada.

With the federal government committing to a 90 per cent non-emitting grid by 2030, said Petrevan, more wind and solar deployment can be expected, even though solar demand has lagged in recent years, especially in the Prairies where renewables are needed to help with Canada’s coal-fired power plant phase out.

One example of renewables in the Prairies, where the provinces are poised to lead growth, is the Travers Solar project, which is expected to be constructed in Alberta through 2021, and is being touted as “Canada's largest solar farm.”

But renewables are only “one part of the broader clean energy sector,” said Petrevan. Clean Energy Canada has outlined how Canada could be electric and clean with the right choices, and has calculated clean tech supports around 300,000 jobs, projected to grow to half a million by 2030.

“We’re talking about a transition of our energy system in every sense — not just in the power we produce. So while the IRENA figures provide global context, they reflect only a portion of both our current reality and the opportunity for Canada,” she said.

The organization’s research has shown that manufacturing of electric vehicles would be one of the fastest-growing job creators over the next decade. Putting a punctuation mark on that is a recent $1.8-billion deal with Ford Motor Company of Canada to produce five models of electric vehicles in Oakville, Ont.

China ‘remains the clear leader’ in renewables jobs

With 4.3 million renewable energy jobs in 2019, or 38 per cent of all renewables jobs, China “remains the clear leader in renewable energy employment worldwide,” the IRENA report states. China has the world's largest population and the second-largest GDP.

The country is also by far the world’s largest emitter of carbon pollution, at 28 per cent of global greenhouse gas emissions, and has significant fossil fuel interests. Chinese President Xi Jinping called for a “green revolution” last month, and pledged to “achieve carbon neutrality before 2060.”

China holds the largest proportion of jobs in hydropower, with 29 per cent of all jobs, followed by India at 19 per cent, Brazil at 11 per cent and Pakistan at five per cent, said IRENA.

Canada, with 32,359 jobs in the industry, and Turkey and Colombia hold two per cent each of the world’s hydropower jobs, while Myanmar and Russia hold three per cent each and Vietnam has four per cent.

China also dominates the global solar PV workforce, with 59 per cent of all jobs, followed by Japan, the United States, India, Bangladesh, Vietnam, Malaysia, Brazil, Germany and the Philippines. There are 4,261 jobs in solar PV in Canada, IRENA calculated, and the country is set to hit a 5 GW solar milestone as capacity expands, out of a global workforce of 3.8 million jobs.

In wind power, China again leads, with 44 per cent of all jobs. Germany, the United States and India come after, with the United Kingdom, Denmark, Mexico, Spain, the Philippines and Brazil following suit. Canada has 6,527 jobs in wind power out of 1.17 million worldwide.

As for liquid biofuels, Brazil leads that industry, with 34 per cent of all jobs. Indonesia, the United States, Colombia, Thailand, Malaysia, China, Poland, Romania and the Philippines fill out the top 10. There are 17,691 jobs in Canada in liquid biofuels.

 

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