In a striking turn of events, Alberta’s renewable energy sector has experienced a staggering collapse, with corporate clean energy deals plummeting by 99 per cent from 2023 to 2025. A recent report from Business Renewables Centre-Canada reveals that while Alberta’s renewables activity has nearly vanished, Nova Scotia has risen to prominence as Canada’s most engaged market for corporate renewable transactions. This marks a significant shift, as it is the first instance of a province outside Alberta leading in this sector.
Nova Scotia’s Green Choice Programme
The catalyst for Nova Scotia’s success can be attributed to the launch of its Green Choice Programme, initiated two years ago. This innovative scheme enables large electricity consumers to procure renewable energy directly from local projects. In January 2025, Nova Scotia Power announced a major milestone, securing 262 megawatts of new wind capacity through developments under this programme, all co-owned by Mi’kmaw communities in the region. The report highlights Nova Scotia as a benchmark for other provinces in developing corporate renewable energy procurement initiatives.
Alberta’s Policy Overhaul and Its Consequences
Jorden Dye, director of BRC-Canada, expressed little surprise over the significant decline in Alberta’s renewable energy deals, attributing it to recent governmental policies. These include a seven-month freeze on renewable project approvals, restrictions on projects on certain agricultural lands, and new fees and security requirements for developers. Dye noted, “We went from an average of about 1,000 megawatts of deals per year down to only five megawatts last year. That’s hundreds of millions of dollars in lost investment and thousands of jobs.”
The changes in policy have severely curtailed corporate investment in renewable energy, leading to a bleak outlook for future projects in Alberta. The province’s Utilities Minister has countered these claims, asserting that the report misrepresents Alberta’s renewables landscape, citing the approval of 16 new renewable projects in 2025 as evidence of ongoing development.
Tax Revenues Highlight Renewable Potential
Despite the downturn, solar and wind projects in Alberta generated approximately £70.6 million in municipal tax revenues in 2025. However, the report warns that these benefits are overshadowed by new policies that currently hinder the province’s renewable energy market. It stresses that there remains a strong demand from private-sector buyers for low-cost, non-emitting energy, and the fundamentals of Alberta’s market-based electricity system should still make it an attractive location for investment. However, ongoing policy uncertainty has stalled new commercial transactions.
Future Outlook: Policy Changes and Market Confidence
The report further indicates that Alberta is undergoing additional policy revisions, particularly concerning its restructured energy market (REM) and transmission regulations. It cautions that clarity in these areas may not be sufficient to restore confidence among investors and developers in the renewable electricity market. The precedent set by the Alberta government’s previous disregard for investment expectations raises concerns about the sustainability of future policies.
Why it Matters
The dramatic decline of renewable energy deals in Alberta not only jeopardises the province’s economic potential but also has significant implications for Canada’s overall clean energy ambitions. As Nova Scotia emerges as a leader in corporate renewable energy, the contrasting fortunes of these two provinces underscore the critical role of supportive policy environments in attracting investment and fostering sustainable energy growth. The situation in Alberta serves as a cautionary tale for other regions, highlighting the need for consistent and forward-thinking energy policies that can adapt to the evolving landscape of renewable energy.
