Avik Dey

📈 📊 New report from AGA, the Canadian Gas Association and MCR Performance Solutions shows investor sentiment towards North American natural gas utilities has improved amidst changing market dynamics and policy landscapes. Key takeaways include: 💰 Natural gas remains crucial for energy resilience and affordability, and investors perceive less risk to profitability from regulation than in previous years. 🏘️ Investors view natural gas as remaining important to the American energy system for decades at minimum. Learn more at: https://buff.ly/4fnbQPd

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Chuffed to announce Varme Energy's strategic partnership with Gibson Energy and PSP Investments-backed Canada Growth Fund (CGF) for the development of the first waste-to-energy with carbon capture facility in Canada. Our project, located on Gibson land in the Alberta Industrial Heartland, will be diverting Edmonton's municipal waste otherwise destined for landfill, avoiding methane release and capturing the CO2 for permanent sequestration. The energy we generate from this process will be net carbon negative. The groundbreaking carbon offtake contract entered into with CGF will ensure the financeability of the project while at the same time allowing us to participate in the voluntary market for Bioenergy with CCS (BECCS) credits, monetising the project's atmospheric carbon removal credentials. Proud to have been part of this since the very day I landed in Canada and humbled by the enormous progress achieved by our stellar team, delivering a milestone project on the route of decarbonising Canada's waste and energy markets. #Canada #CGF #VarmeEnergy #GibsonEnergy #ccs #wastetoenergy #decarbonization #carboncredits #greenelectricity #edmonton #alberta #BECCS Sean Collins Wayne Carey Andreas Grav Karlsen Rory Wheat Samir Hamid Torgeir Segberg https://lnkd.in/gQJpQtEB

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“It’s nice when you can kill two birds with one stone,” Mr. Poirier [TCE Chief Executive Officer] said at the time. “We have $100-billion of assets. We could have picked any number of assets to reduce debt.” The Globe and Mail - September 10, 2024 The Siksika Nation was invited to participate in this monumental and historic transaction. Ultimately, based on the assessment of the opportunity and after careful consideration, the Nation determined that the TC Energy deal did not align with Nation values and priorities. For some of the communities, they have chosen to participate based on their own values and priorities and I applaud them for that. I’ve been asked about our participation many times over the last several weeks since the deal was announced – as many assumed we were one of the participating Indigenous communities. In some cases, we have been criticized and questioned as to why we have chosen not to.   Rather than get into the “why not”… I’d rather say this… following our spring Board meeting, SGC elected to focus its future growth centered around a theme of “building for the future”. We want to focus on opportunities to build generation, transmission, and energy storage infrastructure to support Alberta’s economy and population growth. We want to be involved in projects where our voice can be heard and we have the ability to actively participate as partners. We have chosen to focus our efforts on building for Alberta’s future and support projects that address future environmental and climate change issues. As parents and grandparents, we owe it to our children and grandchildren to think about the legacy we leave for them and the path we blaze for them to follow. #indigenous #siksika #tcenergy #alberta #aioc #firstnation #economicreconciliation https://lnkd.in/g9ppwV4Y

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The ASC’s 2024 Alberta Capital Market report is now available! Alberta continues to be one of Canada’s most important capital markets, with traditional industries such as oil and gas, and utilities and pipelines playing critical role in our economy. Emerging industries continue to grow, helping to diversify our province’s capital market. Learn more: https://lnkd.in/gpJnUjxk

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🌟 Over the past year, Alberta issuers in select emerging industries, such as alternative energy, clean technology, and financial services, have shown impressive growth. The amount of capital raised increased from $3.5 billion in 2022 to $3.9 billion in 2023. Discover more about our province’s thriving capital market in the 2023 Alberta Securities Commission 2024 Alberta Capital Market report.

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100% concur with Diego Mandelbaum on this issue. A recurring problem is that policy makers have a blind spot on thermal energy. They wrongly assume that electricity policy is energy policy and vice versa. This myopia results not only in higher consumer costs but inferior capital deployment and deleterious environmental outcomes. We need to break the fever of “electrify everything” through ardent advocacy and education.

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On this #ARCEnergyIdeas, we have a great discussion with Avik Dey, President and CEO of Capital Power, a publicly traded North American power producer headquartered in Edmonton. Avik talks about how the company has transitioned from #coal to #naturalgas, #renewables and #batterystorage, going from majority coal over 12 years ago to zero now. Jackie and I cover many topics with Avik, including: • Is it possible to deliver clean, reliable and affordable electricity? • Does he expect small modular reactors to be built in Alberta? • What can Alberta learn from Texas, which generates a greater share of its electricity from renewables than Alberta, while Alberta is hitting the brakes on renewable development? • Is he concerned about the potential for rapid growth in electricity demand to fuel AI data centres in Alberta? • Why Capital Power recently cancelled its proposed $2.4 billion Carbon Capture and Storage Genesee project in Alberta You can listen to the episode here: https://lnkd.in/gJ9cJduJ

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Alberta Energy Market Summary: Q2 2023 vs. Q2 2024 review The Alberta power market saw significant changes between Q2 2023 and Q2 2024: 💠Pool Prices: A sharp decrease, with an average drop of 72% from $159.79/MWh in Q2 2023 to $45.17/MWh in Q2 2024. 💠Demand: Increased slightly by 2%, with an average demand rising from 9,293 MW to 9,523 MW. 💠Gas Prices: Plummeted by 52%, from $2.39/GJ to $1.14/GJ. 💠Wind Generation: Saw a notable increase of 63%, reaching an average of 1,571 MW. 💠Solar Generation: Grew by 21% during peak hours, reaching an average of 673 MW. Alberta's energy landscape is evolving with lower prices and higher renewable output. Stay informed on these impactful changes in Alberta's energy landscape with Anova Energy. #AlbertaEnergy #AnovaEnergy #PowerMarket #RenewableEnergy #EnergyUpdate #Electricity

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👀 Released today! 📣 Powering Canada: A blueprint for success Canada Electricity Advisory Council's report calls for clear, consistent policies to guide Canada's electricity transition, empowering decision-makers to drive the energy transition: 📈 Effectively ⚡ Efficiently 💲 Affordably Read here: https://lnkd.in/gB8yGWDM

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#Oil_Sands_Carbon_Capture_Projects Canada’s government-backed Canada Growth Fund (CGF) announced the creation of a new strategic partnership with oil and gas producer Strathcona Resources agreement to jointly invest up to C$2 billion (USD$730 million) for the development of carbon capture and sequestration (CCS) infrastructure on Strathcona’s Saskatchewan and Alberta oil sands facilities. CGF commenced operations in 2023, capitalized with $15 billion for deployment over five years, aimed at helping develop a clean economy in Canada, and attracting private capital to help absorb risks and encourage investment in low carbon projects, technologies, businesses, and supply chains. The new agreement marks CGF’s sixth investment to date, with other investments including $200 million in Calgary-based carbon capture startup Entropy, and $90 million in Calgary-based geothermal energy company Eavor Technologies. https://lnkd.in/d-_gqjXG

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Recent regulatory changes are reshaping the landscape for renewable energy projects. From buffer zones and an 'agriculture first' approach to new costs and participation rights, the rules are creating new challenges and opportunities. At BD&P, we're at the forefront of these developments, providing expert advice to energy entrepreneurs and corporations navigating this complex regulatory environment. Learn more about how BD&P can help your business thrive amidst Alberta's evolving energy regulations. #EnergySector #RenewableEnergy #Cleantech #RegulatoryUpdates #Alberta https://lnkd.in/gMYvv-Tg

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ALBERTA'S BIGGEST TECH INVESTMENT AREAS OF 2024 When it came to publicly announced investment rounds in Alberta tech this year, three sectors stood out from the pack: Energy, Health, and Fintech. Energy tech investments included EnviCore Inc., Ayrton Energy, CruxOCM, RocketFrac Services Ltd., ClearSky Global, Blackline Safety, Galatea Technologies, connect-x, CNERGREEN and Eavor Technologies Inc. Health tech investments included OraQ AI, Orpyx®, Syantra Inc., FLORA (Flora Fertility) sylvester.ai, Willow Biosciences Inc, PulseMedica and CARE Group. Fintech investments included Neo Financial, CreditApp, ZayZoon, Bitcoin Well, Carbeeza, PayShepherd and Helcim. #Alberta #AlbertaTech #ABTech #VentureCapital #VC #InvestmentNews #HealthTech #EnergyTech #FinTech #Startup #Founder #CoFounder #Accelerator #Investor #TechCommunity #StartUpEcosystem #Entrepreneur #Tech #YYCtech #YEGtech 

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💥 Alberta's Fintech Landscape 💥 We deeply believe #Alberta has everything it takes to develop one of the strongest fintech sectors in Canada, showcasing a strong talent pool, increasing investments, and a spirit of collaboration. In 2024, fintech has emerged as a leading sector alongside EnergyTech and HealthTech. Alberta’s fintech trailblazers, such as Neo Financial, CreditApp, ZayZoon, Bitcoin Well, Carbeeza, PayShepherd, FLORA (Flora Fertility), and Helcim, attracted significant investments this year 🎉 . As we continue to build and foster this ecosystem, we are happy to do so alongside organizations such as Prairies Economic Development Canada I Développement économique Canada pour les Prairies, Calgary Economic Development, Platform Calgary, and others that are focused on increasing this momentum. Together, we bet on Alberta’s bright future in fintech 🚀 . ✨ Thank you, Start Alberta, for the data and for championing tech and funding in the region! Platform Calgary | Startup TNT | Tech Thursday | Calgary Economic Development #Alberta #Fintech #Innovation #ABTech #StartupEcosystem #YYCTech #Community #investments #Canadianstartups #startups #funding #technology #entrepreneurship #founders #canadiantech #Tech #innovation #innovationsector

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Mike and Graeme Edge discuss the Energy Disruptors Summit, and how it helps support intrapreneurs within Alberta. They also speak to the challenges and opportunities in the energy industry, highlighting the importance of courageous leadership, pushing through discomfort, and taking risks to make a profound difference. Join the conversation on driving impactful transformation and embracing change in the energy sector. Let us know your thoughts on it! https://lnkd.in/gQkjDJPh #albertaenergy #energyindustry #edu2024

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IPSS: Economic Reconciliation in Action – Resource Works The fifth annual Indigenous Partnerships Success Showcase is much more than a conference; it is a contribution to national economic reconciliation, and to helping Indigenous Peoples become true partners in Canada’s economy and society. Speakers from all over Canada will gather in Vancouver June 5 and 6 to discuss and support reconciliation. They will look at case studies of practical ways to advance reconciliation, and at the partnerships and opportunities that are increasingly being shared between Indigenous people and industry. Learn More: https://hubs.la/Q02xzw3r0 #ipss #economicreconciliation #indigenous #firstnations #energy #reconciliation #economy #energyindustry #indigenouscommunities

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Congratulations to our Energy Futures Lab colleagues and these incredible leaders on this important next phase of the Alberta's Electricity Future initiative. "While innovation is often thought of as purely technological, innovation in business models, policies, resources and investments, relationships and narratives (known collectively as social innovation) is also required to smooth paths to commercialization and mass adoption of new technologies as well as the transformation of associated policies, processes, and paradigms. What, for the industrial revolution, took centuries, must now be accomplished in a matter of decades in order to avoid the worst effects of climate change, which makes these often-overlooked social dimensions of change management critical." Learn More: https://lnkd.in/g6p5mN5R

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