00:11:53 EDT Tue 16 Jul 2024
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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2024-02-29 C$ 29.83
Market Cap C$ 3,065,512,882
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Globe says Enbridge, rivals see green projects banned

2024-02-29 07:03 ET - In the News

See In the News (C-ENB) Enbridge Inc

The Globe and Mail reports in its Thursday, Feb. 29, edition that the Alberta government has implemented new rules for the renewable energy industry, which prohibit renewable energy projects from being developed on large areas of land. The Globe's Emma Graney and Jeffrey Jones write that the industry believes that this will hinder growth and development due to red tape. The changes, announced Wednesday by Premier Danielle Smith and Utilities Minister Nathan Neudorf, are the culmination of a regulatory inquiry into the province's renewable-energy planning rules that began almost seven months ago. The province ordered a moratorium on renewable project approvals while the inquiry proceeded, a move that was widely criticized by the industry and environmental advocates. The new rules will come into force March 1. Under the changes, Alberta will ban new projects from private property the government considers to have excellent or good irrigation capability, unless a proponent can demonstrate that crops or livestock can co-exist with power infrastructure on the site. The government gave no indication that similar restrictions would be applied to the development of fossil fuels or other natural resources.

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