Clean Power Finance Canada– CanREA Summit

June 19, 2024
CIBC Square, Toronto, Ontario

On June 19, 2024, the Canadian Renewable Energy Association (CanREA) hosted the Clean Power Finance Canada—CanREA Summit at the CIBC Square in downtown Toronto. The event brought together nearly 140 people interested in hearing from clean power industry leaders and investment experts on the financial side of Canada’s renewable energy and energy storage industry. 

PHOTO: Nearly 140 people attended the Clean Power Finance Canada—CanREA Summit in Toronto on June 19, 2024. 

This CanREA Summit provided comprehensive insights into the financial landscape of Canada’s clean energy market, featuring discussions on investment opportunities, risk management, revenue streams, and innovative technologies. Attendees gained valuable knowledge on how to navigate the evolving clean energy sector. 

PHOTO: Clean Power Finance Canada—CanREA Summit was a prime networking opportunity bringing together people from both the clean power and investment industries.

To set the stage for the day’s discussions, Vittoria Bellissimo (President and CEO of CanREA) and James Brooks (Managing Director & Co-Head of Energy, Infrastructure & Transition Investment Banking at CIBC Capital Markets) opened the Summit with a warm welcome and insightful remarks that emphasized the importance of financial strategies in advancing Canada’s clean energy future.  

PHOTO: CanREA’s Vittoria Bellissimo and CIBC’s James Brooks delivered insightful opening remarks at Clean Power Finance Canada—CanREA Summit.

The keynote address was delivered by the Hon. Lisa Raitt, the Vice-Chair of Global Investment Banking at CIBC, and a former federal Minister of Transport, of Labour, and of Natural Resources. Raitt highlighted the critical role of strategic investments and policy support in accelerating Canada’s clean energy transition. 

PHOTO: Clean Power Finance Canada—CanREA Summit’s keynote speaker, the Hon. Lisa Raitt.  

The opening plenary session, “State of the Industry: Clean Power in Canada,” provided a finance-focused overview of the clean energy investment landscape in Canada. Panelists explored the latest industry trends, long-term forecasts, upcoming procurements, and the corporate PPA environment across Canada, emphasizing the political headwinds and tailwinds affecting project development and execution. 

PHOTO: From left to right: Moderator Tyler Hume (CIBC Capital Markets), Greg Lyle (Innovative Research Group Inc.), John Penner (StrategyCorp Inc.), Evan Wilson (CanREA), and Leonard Kula (CanREA), discussing the state of the clean power industry in Canada.

In a session on “Revenues & Reporting: Understanding Clean Power Value Streams,” panelists delved into the various revenue streams and market pricing available across Canada, including competitive procurement contracts, corporate power purchase agreements, investment tax credits, ancillary services for energy storage, government funding, and carbon offset markets. The panel also explored how ESG reporting and Green Taxonomy are evolving.

PHOTO: From left to right: Carly Shier (Evolugen by Brookfield Renewable), Jonathan McGillivray (Resilient LLP), Jake Sadikman (Osler, Hoskin & Harcourt LLP), Craig Sundstrom (Amazon Web Services) and Moderator Robert Nicholson (RBC Capital Markets), discussing revenue streams and reporting in the clean power sector.

In “The Game of Risk: Identifying & Mitigating Risk Profiles for Clean-Power Projects” session, panelists discussed the new and evolving risks faced by clean power projects, including supply-chain management, project siting and permitting, transmission access, political carbon pricing risk, and workforce development. The panel provided strategies on how the industry manages these factors and how investors and financiers view and calculate risk. 

PHOTO: From left to right: Jeremy Jagt (Potentia Renewables Inc.), Rob Lydan (Phoventus Inc.), Marion Hill (DNV), Martin Delaney (Gallagher) and Moderator Brendan Costigan (National Bank Financial), discussing risk management in clean power projects. 

In the session “Indigenous Equity Financing: Exploring Funding Avenues for Indigenous Partnerships,” panelists discussed the barriers faced by Indigenous communities in securing financing for equity partnerships in clean energy projects. They also explored the available and forthcoming solutions to these challenges, emphasizing the importance of equitable access to financing. 

PHOTO: From left to right: (On screen) Sandy Roberts (Ontario Financing Authority), Matt Jamieson (Six Nations of the Grand River Development Corporation), Stephen Scott (Canadian Infrastructure Bank), Ricky Fontaine (RGL Fontaine) and Moderator Tiffany Murray (BLG) discussing Indigenous equity financing in clean energy projects. 

The closing session, “Financing the Innovators: Emerging Clean-Power Technologies,” moderated by Iain Watson of Marathon Capital, showcased the innovative technologies poised to transform the clean energy landscape. Panelists presented emerging technologies such as green hydrogen, long-duration energy storage, and offshore wind. They also discussed the financing and revenue challenges and opportunities associated with these innovations. 

PHOTO: From left to right: Jon Norman (Hydrostor), Jean-François Nolet (TES Canada), Frank Davis (Pattern Energy), Adam Beaumont (Northland Power) and Moderator Iain Watson (Marathon Capital) presenting on emerging clean-power technologies.

Over one full day, the Clean Power Finance Canada—CanREA Summit provided attendees with critical insights into the financial mechanisms driving Canada’s clean energy future, featuring a diverse array of case studies showcasing the practical impacts and financial successes of clean power projects across the country, and successfully brought together the finance and clean energy sectors for mutual learning and networking opportunities

View the entire year of CanREA events here.

PHOTO: Attendees engaging in discussions during the Summit. 

Thank you to our sponsors

A heartfelt thank you to all our sponsors for their generous support. As the Presenting Sponsor, CIBC played a pivotal role in the event’s success, providing key support and insights. We also extend our gratitude to our Bronze Sponsors: Compass Energy Consulting, DNV, Evolugen, Osler, Phoventus Canada, and Gallagher. Their contributions were essential in making the inaugural edition of Clean Power Finance Canada—CanREA Summit an outstanding event. 

PHOTO: Representatives of Presenting Sponsor CIBC alongside CanREA staff. From left to right: Rahul Rahul (CIBC), Vittoria Bellissimo (CanREA), & Peter Mastromarini (CIBC)
PHOTO: Representatives of Bronze Sponsor, Compass Energy Consulting, alongside CanREA staff. From left to right: Cameron Mccullough, Jonathan Cheszes, and Rachelle Lynne-Davies from Compass & Vittoria Bellissimo (CanREA)
PHOTO: Representatives of Bronze Sponsor, DNV, alongside CanREA staff. From left to right: Marion Hill (DNV), Anna Moser (DNV), Wesley Johnston (CanREA).
PHOTO: Representatives of Bronze Sponsor, Evolugen, alongside CanREA staff. From left to right: Lisa Fulford (Evolugen), Carly Shier (Evolugen), and Vittoria Bellissimo (CanREA)
PHOTO: Representatives of Bronze Sponsor, Phoventus Canada, alongside CanREA staff. From left to right: Wesley Johnston (CanREA), Rob Lydan (Phoventus) & Vittoria Bellissimo (CanREA)
PHOTO: Representatives of Bronze Sponsor, Gallagher, alongside CanREA staff. From left to right: Wesley Johnston (CanREA), Martin Delaney (Gallagher), Vittoria Bellissimo (CanREA)

Sponsorship opportunities

Sponsorship opportunities are available for other CanREA events. Please view the sponsorship webpage here and contact Julie Mair, CanREA’s Director, Membership and Business Development, to discuss interesting ways you can stand out from the crowd as a sponsor and showcase your company as a leader in the industry.