Canada's Largest Companies Need 7.7 GW of Clean Energy

Canada’s 100 largest publicly traded companies will require 7.7 gigawatts (GW) of renewable electricity by 2040 to meet their greenhouse gas reduction targets, enough to power 1.88 million Canadian homes. More than half of that demand must be secured by 2030, according to a new report from the Business Renewables Centre-Canada.

The report, From Pledge to Power: Translating ESG Goals into Renewable Energy Demand, offers a national analysis of how corporate climate targets translate into real electricity demand. It highlights a significant and time-sensitive opportunity for provinces to attract billions in clean energy investment, thousands of jobs, and millions in new revenue for municipalities across the country. 

Beyond the direct benefits of building clean power projects, provinces that enable corporate renewable procurement also attract continued capital investment and jobs from companies seeking reliable, low-cost clean power to run their operations.

Our analysis reveals a major requirement for renewable energy in the coming years. At 7.7 GW of corporate demand identified, this represents more than a doubling of current solar capacity across Canada over the next five years. Corporations and institutions nationwide are committed to large-scale procurement of renewable energy. The main challenge faced by these corporations is whether governments across the country will implement policies that either enable or block this opportunity. 

Business Renewables Centre-Canada | https://businessrenewables.ca/