Ontario Launching New Competition for Renewable Energy Projects
April 6, 2016
Working with the Independent Electricity System Operator (IESO), the province will issue a Request for Qualifications process by August 1, 2016 for 930 megawatts (MW) of renewable energy from solar photovoltaic, wind, hydroelectric and bioenergy sources, following engagement with stakeholders, municipalities and Indigenous communities.
Based on the results of the first phase of the Large Renewable Procurement (LRP I), it is expected that $3.3 billion in LRP costs will be removed, saving typical residential electricity consumers an average of $1.67 per month on their electricity bill over the forecast period. The LRP, which replaced the large Feed-In Tariff (FIT) program, covers renewable energy projects generally larger than 500 kilowatts (kW) and was designed to strike a balance between community engagement and achieving value for ratepayers. For LRP Phase II, Ontario has set targets of up to 600 MW of wind, up to 250 MW of solar photovoltaic, up to 50 MW of hydroelectricity and up to 30 MW of bioenergy. Since 2003, Ontario’s clean energy initiatives have attracted billions of dollars in private sector investment and it is estimated that they have generated over 42,000 jobs in the clean technology sector. There are more than 30 solar and wind manufacturers operating in communities across the province.
The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses.
The province will continue to ensure renewable energy procurement encourages the selection of projects with local support and competitive prices, as well as projects with First Nation and Métis participation.
The IESO engagement process will include surveys, webinars and meetings with industry associations, municipal associations and Indigenous communities. Further engagement opportunities will take place during the LRP II RFQ and RFP phases.
Find out more: https://news.ontario.ca/mei/en/2016/04/ontario-launching-new-competition-for-renewable-energy-projects.html.
Photo courtesy of Pixabay.
