By Jean Todea, Senior Communications Lead

Canada's renewable energy market is attracting international attention, even during periods of uncertainty. One notable example is METLEN Energy & Metals, a London-listed energy and metals company, which recently entered the Canadian market with a 510 MWac solar portfolio in Alberta and expansion plans for Ontario. Their decision to invest during a challenging period offers valuable insights for corporate buyers looking to secure clean energy.

METLEN's decision to enter North America through Alberta reflects the province's strong fundamentals: a merchant power market that enables direct corporate PPAs, low corporate tax rates and excellent solar resources. They were not the only one – since 2019, the majority of new solar and wind capacity in Canada was built in Alberta. And between 2019 and 2023, 34% of newly installed generation in Alberta was made possible by corporate renewable energy procurement.

The economic impact is substantial. Alberta municipalities collected $70.7 million in tax revenues from wind and solar projects in 2025, a 30% increase from $54.4 million in 2024 and 151% increase from $28.1 million in 2023. Twenty-six communities now receive this revenue, providing a stable foundation for long-term planning.

However, since the beginning of the moratorium on renewable project approvals in August 2023, the market has faced significant headwinds. New capacity additions decreased by 38% in 2025 (1,297 MW versus 2,096 MW in 2024), and project cancellations resulted in $84 million in lost annual tax revenues for municipalities. 

Against this backdrop, METLEN's commitment to advancing its 510 MWac Alberta portfolio through development, interconnection, and permitting is notable. While many developers have paused or cancelled projects, international players with long-term horizons and experience navigating regulatory shifts in other markets may be better positioned to weather uncertainty.

For corporate buyers, this highlights an important consideration: when market conditions improve, developers who maintained their presence and advanced projects through the uncertainty will be positioned to contract more quickly. METLEN's planned expansion into Ontario through the Long-Term 2 Procurement program also demonstrates the value of diversifying across provincial markets as opportunities emerge.

Beyond solar energy, METLEN is also establishing a significant energy storage presence. With over 0.8 GW of energy storage projects and 12.1 GW of total renewable energy capacity across various countries and stages of development, METLEN reflects how developers are increasingly offering new solutions in response to evolving buyer needs and market conditions. This matters for corporate buyers interested in integrating storage within their power purchasing strategy, whether to achieve next-generation climate goals, mitigate congestion risks or maximize the value of their procured renewable energy.

Municipal tax revenues from renewable energy projects in Alberta have increased from $28.1 million to $70.7 million over the past three years, but this growth is entirely attributable to projects initiated before the moratorium. The drop in new projects coming online due to an extended period of regulatory uncertainty could put millions of potential tax revenue at risk. The entry of international players like METLEN suggests Canada's fundamentals remain strong but realizing that potential requires regulatory frameworks that support investment.

For corporate buyers, this underscores the importance of policy stability in enabling clean energy procurement. Markets work when buyers, developers, and communities can all plan with confidence. At BRC-Canada, we continue to advocate for policies that restore market confidence and provide the tools to help buyers navigate opportunities across Canada's evolving provincial markets.