‘The business case for renewables only gets stronger’
Our green energy investments: Good for the bottom line, good for the environment
We’re focused on the future of energy. And we aren’t doing it for pats on the back.
Back in 2002, Enbridge entered the renewable energy space by buying a 50-per-cent interest in a wind farm near Gull Lake, Saskatchewan.
“We didn’t buy that farm to give us a pretty picture in our annual report,” remarks Lino Luison, Enbridge’s Vice President of Green Power, Transmission and Emerging Technologies. “We invested in wind because we saw an opportunity.”
Nearly 15 years and $5 billion later, renewables and power generation are the fastest growing portion of Enbridge’s business—and we’re aiming to double our current capacity by 2019.
Public expectations evolve, and Enbridge is evolving with them. Climate change is a global issue, and we’re uniquely positioned, by simultaneously working among various energy supply streams, to help society transition to a lower-carbon future.
Renewable energy is a cornerstone of our strategic vision, and we’ll be sharing that vision this week at the GLOBE 2016 Conference and Innovation Expo in Vancouver, which runs from Wednesday, March 2 through Friday, March 4.
“As technology advances and demand for energy grows, the business case for renewables only gets stronger,” says Luison. “They’re good for the environment, and they’re also good for our business—they’re investments with a low risk, solid returns, and huge growth potential.
“As a society, we’re going to need all sources of supply to keep up with energy demand, and the two fastest growing forms of energy are expected to be natural gas and renewables—which are significant elements of Enbridge’s business.”
This week at GLOBE 2016, North America’s most influential sustainable business summit, Luison will be one of several Enbridge leaders engaging delegates and visitors at our GLOBE Energy Connections booth, through a TED Talks-style presentation on Enbridge’s renewables.
With a wide array of operating green assets, and multiple growth projects on the go, Enbridge will be supplying more than a million homes with emissions-free electricity by 2018.
Currently, that green energy portfolio includes:
- 14 operational wind farms, based in Texas, Colorado, Indiana, Ontario, Quebec, Alberta and Saskatchewan;
- Four solar energy projects in Nevada and Ontario;
- A geothermal facility in Oregon;
- Five waste heat recovery facilities in Alberta and Saskatchewan;
- A bi-directional power transmission line in Montana and Alberta; and
- A run-of-river hydroelectric power project in Ontario.
By 2018, we’ll also be bringing into service the New Creek Wind Project in West Virginia and the Rampion Offshore Wind Project in the English Channel, with the East-West Tie Transmission Project in northern Ontario slated for 2020.
Innovation is a big part of the energy supply equation, and it’ll be an important element of our presence at GLOBE 2016. In our Energy Connections presentation space this week, we’ll be joined by representatives from two Canadian companies in which we’ve invested significantly—Morgan Solar, currently breaking new ground in next-generation solar panels, and Temporal Power, which operates the world’s leading flywheel energy storage technology.
“As renewable technologies improve and become less costly, while demand grows, the business case for increasing renewables in the energy mix improves as well,” says Luison.