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    Suncor Looks to Diversify with Renewables

    A recent article in the National Observer highlights Suncor Energy’s plans to add multiple new solar and wind farm projects to Alberta’s energy mix.

    Photo: National Observer
    Photo: National Observer

    Since 2002, Canada’s largest oil sands producer has operated six wind farms, but has yet to operate a solar facility. Suncor’s proposed solar projects would add 240 megawatts of solar generation capacity to Alberta’s current 9 megawatts. The four wind farms in development could generate up to 440 megawatts of capacity. If built, the facilities would “more than triple the company’s renewable energy production.”

    “Climate change is happening,” said Suncor Energy CEO Steve Williams in March of 2015. “Doing nothing is not an option we can choose.” Williams is a vocal proponent of taking action against climate change, and stood alongside Rachel Notley as she announced the new climate change framework in Alberta.

    The potential for Suncor to diversify, evolve and become a leader in renewable energy is attributed to the company’s strong financial standing and progressive corporate culture, according to Jamie Bonham, of NEI Investments. The Canadian mutual fund company looks to “invest in companies with strong financial performance and rigorous environment, social and governance practice,” and according to the article, has been encouraging Suncor to “prepare for a carbon-constrained future” since 2013.

    To read the full article in the National Observer, click here.


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