7 shining Canadian solar companies to keep an eye on
The future is looking bright for the Canadian solar industry. As the country shifts to more sustainable forms of energy, these are some of the major local players who can play a part:
Travers Solar, the largest solar project in Canada, is currently under construction in southern Alberta. – Travers Solar
1. Greengate Power
Developing Canada’s largest solar project ever definitely is worthy of a spot on this list. Greengate began work on the Travers Solar Project in 2017. The 3,330-acre project is expected to generate clean energy for more than 35 years. Other Greengate projects in development include Lathom Solar, Midnight Solar, Luna Solar+ and Jurassic Solar+. Greengate’s website states this goal: “The time to charge into the future of energy, and answer back with vision and innovation, is now. This is how we take the planet to net zero.”
2. Canadian Solar
All those solar panels to fuel the green transition have to come from somewhere. Why not Canada? The company was founded and is still led by scientist Shawn Qu. The company specializes in solar photovoltaic modules and solar energy solutions. Qu started the company in Ontario in 2001 and 14 years later it brings in billions in business. In 2020, the company raised $260 million capital for the company’s module systems and solutions business’ carve-out IPO and completed a $230 million convertible bond issuance. According to its website, Canadian Solar currently has 23.8 GW of solar projects and 27.5 GWh of storage projects in the pipeline.
3. Borea Construction
When it comes to experience, it’s hard to find anyone better. Borea says that it has constructed more than 6,500 MW of renewable energy across Canada which represents one third of the market and is more than any other contractor in Canada. Borea was responsible for the full engineering, procurement and construction scope on Brooks Solar, a 17-MW solar project in Alberta. Using over 48,000 high-efficiency solar modules, and nearly 3,000 tables of fixed racking systems, Brooks is currently the largest utility-scale solar plant in the province. Borea also worked on Strathmore Solar which was completed on schedule earlier this year.
4. PCL Construction
It’s no secret that PCL’s solar division is exploding. The company announced that the division did more than half a billion dollars in annual revenue in 2021. PCL’s solar sector team also nearly doubled in the same time-period, growing from 119 employees to 214.
“The demand for high-performing solar facilities will only increase in the coming years as the world transitions away from carbon-producing forms of energy generation,” says Andrew Moles, director of solar for PCL Construction. “PCL has risen to the challenge by assembling an outstanding renewable energy team ready to meet the needs of this ever-growing market.”
5. Amp Energy
This Toronto based giant had humble beginnings as a solar developer in 2009. It has since expanded to have a more than 700 MW portfolio in North America alone. The company has also branched out into wind and green hydrogen projects. The company boasts a grid-edge digital technology platform, Amp X, which utilizes artificial intelligence and machine learning to drive scale globally.
6. Teck Resources
Yes. I know. What does a mining company have to do with solar? According to clean energy Canada, a climate and clean energy program housed at Simon Fraser University, building a solar panel requires 19 mineral products and metals. This includes things like copper, silver, titanium dioxide, gallium and indium. Electric car batteries also require similar materials, meaning that as the economy shifts to more sustainable technologies, they will need to be sourced. In 2018, Teck began work on Quebrada Blanca Phase 2, a mine in Chile that will substantially increase Teck’s copper production. Earlier this year, there were 13,000 workers on the project with a focus on system completion and handover. The team is looking to mine its first copper late this year.
7. Three Sixty Solar
Three Sixty is all about going vertical. While trying to solve the problem of space, the Vancouver company decided to build up. The company says it designed the first commercial solar tower with panels on all sides.
“Developers no longer need to constrain themselves to broad, flat properties, but can now consider more challenging locations and terrain for solar development – this is a game-changing opportunity,” said Brian Roth, Three Sixty CEO.
The company says that their clients can save up to 90 per cent of the land they would have otherwise required to install the same amount of power with traditional ground-mounted solar solutions.