Canadian cleantech companies poised for global growth, but access to
capital still a challenge
TORONTO, June 26, 2012 /CNW/ - An estimated US$21.7 billion worth of
global renewable energy transactions were completed in Q1 2012,
representing a 41% increase over Q4 2011, according to Ernst & Young's
latest quarterly global Renewable energy country attractiveness indices report.
"Growth is top of mind for leading cleantech companies who are meeting
the challenge of transitioning to a low-carbon and resource-efficient
economy with proactive energy strategies involving the C-suite level,"
says Stephen Lewis, leader of Ernst & Young's Renewable Energy Advisory
practice in Canada.
Those corporate energy strategies include improving energy efficiency to
mitigate energy cost hikes, increasing the use of renewable energy and
growing energy self-generation.
"From startups to large corporations and national governments, we're
seeing more and more organizations worldwide embrace cleantech as a
means of growth, efficiency and competitive advantage," says Lewis.
"But only those with a comprehensive and diverse energy strategy will
be able to take advantage of today's resource-constrained world."
Lewis adds that as resource constraints continue to challenge the global
economy, the cleantech industry has the unique opportunity to transform
markets dramatically in the next five years. Forecasts already predict
robust growth across the Canadian renewable energy industry between now
That said, while opportunities abound, there are also many risks within
each province that could hamper growth and impact the success of
Canada's renewable energy sector, including:
British Columbia: Political risk surrounding rate sensitivity and future calls for
Alberta: Access to transmission and challenges in securing long-term power
Ontario: Access to transmission and the enactment of new feed-in tariff rules
Quebec: Ability for the Quebec government to continue stimulating its wind
Nova Scotia: Access to transmission
"Energy is an essential commodity of modern life, and more and more
stakeholders around the globe are realizing the importance of finding
sustainable solutions to our future energy needs," says Lewis. "A
nationally integrated energy system can provide immunity to market
price volatility and safety from security threats, while allowing
Canada to export its energy raw materials rather than consume them
About the report
Ernst & Young's Renewable energy country attractiveness indices has been running since the beginning of 2003 and is distributed to over
4,000 people each quarter. It provides scores for national renewable
energy markets, renewable energy infrastructures and their suitability
for individual technologies.
About Ernst & Young
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