This story was originally published by Canary Media. It has been edited to conform with Corporate Knights style.

In its efforts to block U.S. offshore wind development, the Trump administration has halted project construction, rolled back tax credits and spread misinformation. Now, in the latest manoeuvre, the administration is paying a global energy giant nearly US$1 billion to walk away from its plans to install turbines off the east coast.

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Cubans have been navigating chronic blackouts for years. A routine built around flickering light has created a sort of collective muscle memory for the country’s inhabitants. “They turn the electricity on at 7 a.m., and they turn it off at 1 p.m.,” says Ramon, a vegetable delivery worker who lives in Güira de Melena, 50 kilometres from Havana. “They turn it back on until 10 p.m… It’s a fixed cycle.”  

This power-supply free fall has also expedited the energy transition. In the midst of a crisis, the renewables lifeline appears, albeit incrementally.

The stranglehold on oil shipments has placed renewed emphasis on a plan to transition to renewable energy. At the start of 2025, just 4% of Cuba’s electricity came from renewables. By the end of this year, that is supposed to jump to 17%, according to Ramses Montes, director of national energy policy and strategy at the Cuban Ministry of Energy and Mines. China has been donating thousands of solar panels to Cuba, as part of its Belt and Road Initiative. Brazil sent 300 solar panel kits in 2025, and a new activist-led campaign is raising funds to install the equipment in schools. 

In March, Cuba’s Communist Party announced via Granma, its official newspaper, that it would soon begin installing 5,000 panels donated by China, following another major blackout that plunged two-thirds of the country into darkness. Half of the panels will head to maternity homes, seniors’ centres, hospitals, banks, radio stations and other public infrastructure.  

There are about 30 solar fields in operation now on the island, with plans to add 92 more by 2028 with the help of China. But for the average Cuban, who earns around $16 a month if employed by the state, the options are slim. Many people rely on coal or firewood to cook and stay warm. Most Cubans can’t afford to install solar panels, which can cost thousands of dollars. Electric power generators that run on fuel are a more affordable option, but they are noisy and still cost-prohibitive. A 4,600-watt generator uses about 15 litres of gasoline every 12 hours, with each litre of gas costing as much as US$8 on the informal market.  

Christa Hernández is among the privileged few who were able to install solar panels last year. At that point, the scheduled blackouts were between two and six hours in Havana. But Hernández, who owns the hostel Kerida and the Cimarrón dance school, could see that the power situation was going to make or break her business. Gasoline generators were too loud. She looked into buying solar panels on Amazon, but her credit card kept getting blocked. Finally, she connected with a friend living in the United States who purchased the panels for her, and then she hired a company in Miami that packed them up and delivered them to her doorstep in Cuba. All the equipment, including batteries and shipping, cost US$12,000.  

Our workers come in from their homes already tired, because they weren’t able to sleep, because there is no electricity, there is no water, there is nothing.

— Christa Hernández, business owner in Havana

“We made the switch just in time, because soon after, travel agencies stopped working with hostels that did not have that safety net,” Hernández says. “We’re one of the few privileged people who can invest in this,” she adds. If you don’t have a business, or family who live outside the country, it’s impossible to make the investment.  

“The neighbourhood is very dark. When you look outside, you see how few people have light,” she says. “Life is not the same. You go out into a darkened Cuba, where the cost of everything goes up and there is suffering.”  

“Our workers come in from their homes already tired, because they weren’t able to sleep, because there is no electricity, there is no water, there is nothing.”  

Natalie Alcoba is a Buenos Aires–based journalist and senior editor at Corporate Knights. Berta Reventós is a Buenos Aires-based Latin America correspondent who works for Spanish media and reported from Cuba.

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One place to watch is Nova Scotia, which has big plans to kick-start its offshore wind industry in order to meet electricity demand at home and beyond. Initially, the province is aiming for some 5,000 megawatts of offshore wind capacity.

“There is a lot of interest among developers,” says Elisa Obermann, executive director of Marine Renewables Canada, in an interview. “They’re looking for a country that has a stable regulatory environment and very predictable processes for their auctions and procurement.”

In January, the Canada-Nova Scotia Offshore Energy Regulator concluded a pre-qualification process for companies interested in participating in an upcoming call for bids. So far, Q Energy France, a division of South Korea’s Hanwha Group, has confirmed its interest and has publicly committed to investing in the province’s offshore workforce.

While total energy-transition investment rose in the U.S. last year, changes in U.S. climate policy are contributing to market uncertainty, and market uncertainty makes it difficult for companies and investors to plan ahead. The result is energy-transition investors start to consider putting their money elsewhere, outside of the U.S.

– Joanna Klimczak, Northern Light Capital Partners

But the federal and provincial governments will need to coordinate their efforts to ensure that heightened interest translates into tangible investment. Nova Scotia has a small domestic power market and is looking for federal support to build transmission to other provinces – and, possibly, the United States – in order to persuade offshore wind developers there will be a market for their power.

A nation-scale opportunity

On February 26, Canada’s energy minister, Timothy Hodgson, travelled to Nova Scotia to announce a $5-million federal support for a feasibility study into a proposed transmission project dubbed Wind West, which would deliver offshore wind power to markets beyond the province.

Nova Scotia “has an exceptional wind resource,” Hodgson told reporters. “The main constraint on [Wind West] is not the wind; the wind is there and it blows a lot,” he said. “The constraint would be where is the power going to go and how are we going to move it, so that’s what this is about today.”

The Nova Scotia effort is just one example of Canada’s surging interest in the energy transition. Across the country, federal, provincial and territorial governments are promoting investment in the sector to support the electrification of the economy and construction of new data centres. That includes renewable power, battery and long-duration storage, energy efficiency and electric vehicle infrastructure. Ontario is also pursuing nuclear, including the country’s first small modular reactor.

“There is no shortage of attractive opportunities for Canada to seize the moment,” says Joanna Klimczak, Montreal-based chief executive at Northern Light Capital Partners. “While total energy-transition investment rose in the U.S. last year, changes in U.S. climate policy are contributing to market uncertainty, and market uncertainty makes it difficult for companies and investors to plan ahead,” she says. “The result is energy-transition investors start to consider putting their money elsewhere, outside of the U.S.”

A front door for investment

Klimczak is a finance veteran who works with global asset owners on strategies to capitalize the energy transition. She recently co-convened a meeting between Energy Minister Hodgson and industry CEOs and executives. To secure foreign investment in clean-energy projects, Canada should have a “central front door” where global asset managers can go to track and access the investment opportunities across the country, she says. “Governments at all levels should consider to work together to centralize an entry point and market it highly, because the more investment capital Canada has to choose from and work with, the stronger our economy will be for all Canadians.”

In the United States, the Trump administration has rejected the scientific evidence of a mounting climate crisis and doubled down on fossil energy production while attacking the renewable sector. After record instalments in the third quarter of last year, the U.S. industry is anticipating a slowdown in the United States in 2026, the American Clean Power Association said in an end-of-year report: “Projects are facing heightened regulatory burdens and policy uncertainty, putting the future trajectory of clean power project deployments at risk.”

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All told, cancellations of clean-energy projects in the U.S. – including renewable power, storage and electric vehicle manufacturing – far outpaced new investment announcements in the U.S., according to the business coalition Environmental Entrepreneurs (E2), in a report released February 13. E2 recorded US$35 billion worth of investments abandoned last year, compared to US$12 billion of new investments that were announced. In 2024, the United States saw US$16 billion in clean-energy investments announced and only US$2.5 billion abandoned.

Canada’s renewable sector has seen setbacks, too, but the outlook remains bullish. The country’s wind, solar and electricity storage capacity grew by 56% over the past five years to 25 gigawatts, according to the Canadian Renewable Energy Association (CanREA). That’s equivalent to the capacity of 25 1,000-megawatt nuclear reactors.

Virtually every province or territory has some renewable-energy procurement underway. Over the next decade, CanREA forecasts that investment in new wind, solar and storage will be some $200 billion. CanRea doesn’t include nuclear or large-scale hydro in its forecast, but there, too, provinces are investing in new non-GHG-emitting power projects.

The missing piece: private suppliers

The growth rates would be even greater if provincial governments would unleash private-sector suppliers to meet surging demand without having to sell through government-controlled utilities. Alberta is the sole province with a market in which electricity producers can sell directly to industrial customers through power-purchase agreements. However, Premier Danielle Smith slammed the door on that option when her government ordered a moratorium on new renewable power projects.

Canada can quickly unlock much more corporate investment in renewables

In 2024, companies signed deals for more than 1,000 megawatts of renewable power, virtually all in Alberta, according to figures from the Business Renewables Centre (BRC) Canada, which advises companies on renewable power procurement. That market has since dried up except for some small activity through a Nova Scotia program.

BRC Canada director Jorden Dye says Canada could attract far more investment from multinational corporations that remain committed to meeting climate targets if provinces would relax their exclusive grip on power markets. The centre’s advisory council includes some of the world’s largest companies, including Amazon, Starbucks and Marriott International. “When you start seeing policy churn and policy uncertainty, companies start looking at whether there are opportunities to decarbonize other aspects of the business in other jurisdictions,” Dye says. “And Canada has definitely come up as a factor for that.”

Prime Minister Mark Carney has vowed to make Canada a clean-energy superpower, and both he and Energy Minister Hodgson have pointed to the need for electrification to make that happen. Trump’s war on renewables could prove a boon to Canadian clean-energy ambitions, but only if governments can create the necessary conditions to drive investment.

Shawn McCarthy is an Ottawa-based writer.

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Corporate Knights trained its lens on a wide universe of corporations to produce its first-ever Latin America–specific ranking. Using the Global 100 benchmarks of sustainable-economy performance indicators, it assessed 55 companies based in the region with more than US$1 billion in annual revenue.

Corporate Knights’ director of rankings Michael Yow said Brazilian companies are more forthcoming than other companies in the region with their disclosure, which helps explain why so many made the top 10 list.

1. Alupar Investimento

One of the largest energy companies in Brazil, Alupar’s transmission lines extend across Brazil, Colombia, Chile and Peru and generate roughly 800 megawatts from power plants it operates. The company has adopted various policies that bolster its environmental bona fides, such as “replacement and recovery of native forest vegetation” and “maintenance of biodiversity of fauna and flora” in areas where Alupar has lines or power plants. Alupar also “conducts periodic assessments of water quality downstream and upstream” of its assets and offers certified carbon credits for buyers of emissions offsets.

2. Neoenergia

Wind is a key component of energy production in Brazil, accounting for 20% of the country’s needs. Neoenergia, which provides electricity to some 37 million Brazilians, has leaned into the renewable resource, with 44 wind farms across seven states. In 2023, it launched its first wind and solar hybrid project, capable of producing up to 600 megawatts in the northeastern state of Paraíba – enough to power more than one million homes. Also, the Neoenergía Institute develops community-based programs that include funding environmental research and cultural activities.

3. Energisa

Brazilian electricity company Energisa is actively decarbonizing its operations and putting its energy transition in practice. The company claims to have avoided the production of 539,000 tons of carbon dioxide in 2024 by closing diesel- and oil-fuelled thermal power plants in the Amazon region. The company has contributed to the restoration of Usina Maurício Reserve, a 300-hectare private reserve in the Minas Gerais state, with tree planting.

4. Enel Américas

Based in Chile but belonging to Italy’s Enel Group, Enel Américas is one of Latin America’s main energy producers and distributors. In 2023/2024, the company increased its renewable-energy capacity to 12,600 megawatts – around 98% of its portfolio. In 2023, the company reduced its carbon dioxide emissions by around one-third compared to the previous year thanks to more renewable-energy production and less fossil fuel generation. Enel also subscribes to a biodiversity policy of “no net loss,” with a mandate that aims to avoid having a negative impact on the environment where the company operates.

5. CEMIG

Brazilian CEMIG operates around 5,000 kilometres of transmission lines across the country and a massive distribution network spanning more than 500,000 kilometres of lines, mostly in the state of Minas Gerais. It generates electricity through dozens of power stations, mainly hydroelectric but also wind and solar. CEMIG has significantly increased its internal use of renewable energy and decreased non-renewables over recent years. It has pledged to cut non‑renewable energy consumption by 40% by 2027 while increasing the share of renewables in its own energy use.

6. Engie

Engie’s gas network is Brazil’s largest, crossing about 4,600 kilometres of territory, but almost 100% of the energy the company generates itself comes from renewable sources like wind, hydro and solar. The company has reduced its greenhouse gas emissions by at least 41% since 2017 and also reduced its waste generation and water use. The company touts multiple sustainability awards, including placing 21st on the 2025 Corporate Knights Global 100 ranking.

7. Sabesp

The Company of Basic Sanitation of the State of São Paulo (Sabesp) provides comprehensive sanitation services, including drinking water supply, sewerage and final disposal of wastewater for nearly 30 million people. Last year, Sabesp took part in IntegraTietê, a sanitation program centred in São Paulo city’s Tietê River. Among some 50 initiatives is its Partners for Impact program, which includes environmental management policies around waste and emissions, along with inclusion and social development with communities, such as job creation and education partnerships.

8. Telefônica Brasil

Through its subsidiary Vivo, Brazil’s largest telecommunications company has launched a long‑term forest‑restoration project in the Amazon that will, over 30 years, restore and protect about 800 hectares of degraded land, with the planting, regeneration and conservation of more than 900,000 native trees in one of the most deforested areas of the forest. The company uses 100% renewable energy in its operations and has committed to achieving net-zero emissions by 2035.

9. Paranaense Energy Company

Brazilian Paranaense Energy Company (Copel) is the main electricity distributor in Paraná state and operates in nine other states in Brazil. It was the first Brazilian electricity company to be listed on the New York Stock Exchange, in 1997. Copel has committed to reaching carbon neutrality among its Scope 1 emissions by 2030 and, after divesting from coal‑ and oil‑fired thermal plants, now generates 100% of its electricity from renewable sources, mostly hydroelectric power. It has tapped into Paraná’s major chicken-producing industry with pioneering biogas projects that repurpose poultry waste into electricity, and others that convert biogas into renewable hydrogen.

10. Sociedad Química y Minera de Chile (SQM)

Chilean Chemical and Mining Society is a major producer of lithium, potassium nitrate, iodine and industrial chemicals, with most of its resources and plants in the northern Atacama Desert in northern Chile, a region rich in minerals. In early 2026, it entered into a major partnership with Ivanhoe Electric for a copper exploration project. The company has come under significant scrutiny for its water usage in a highly arid region, in particular from local Indigenous communities and environmental groups. The company says it is committed to responsible practices and in 2024 invested US$33 million in areas such as environmental evaluations, environmental monitoring and mitigation measures, industrial waste management, and hazardous substance management. That year, according to its last report, the company did not receive fines or sanctions from environmental law enforcement.

Latin America Top 10 Ranking

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The blackout would become the longest in U.S. history. Prior to Maria’s battering, Puerto Rico’s solar industry did a modest business.

That quickly changed. In the immediate aftermath of the storm, solar panel purchases soared. They became so ubiquitous that when Hurricane Fiona landed in 2022, the national grid operator launched a pilot program connecting batteries to residential panels for backup power in the event of future blackouts and as an alternative to using gas peaker plants.

Today, solar panels are installed on the rooftops of some 175,000 households; of those, approximately 160,000 also have storage. The pilot program has since become a pillar of the island’s energy system and is the first operational virtual power plant (VPP) in Latin America and the Caribbean, helping to deliver electricity to three million residents.

Now Canada is getting in the VPP game. Utilities and regulators are initiating programs that reward energy-efficiency measures while testing projects that pull energy from unconventional sources such as electric school buses that are hooked up to the grid.

But there’s still plenty of room to grow. Canada boasts only a handful of fully functioning distributed power plants.

Some argue that this slow deployment is due, at least in part, to regulatory policies that fail to prioritize energy efficiency over additional, capital-intensive, supply. Expanding VPPs may also require a mind shift. Speaking with Corporate Knights, experts agree that it’s past time to move from pilots to programs at scale.

What is a virtual power plant?

A virtual power plant is a collection of devices – home batteries, electric water heaters and vehicles, solar panels – connected to each other and to the grid. Combined, these multiple small energy sources form a network that acts as a power plant, supplying electricity to the grid when demand surges. In addition to supply, efficiencies in energy use can also contribute to a VPP.

For example, smart thermostats alleviate stress on the grid during periods of high consumption by automatically adjusting the temperature up or down depending on whether demand is for heating or cooling.

“Using energy sources that are responsive to demand fluctuations isn’t new, but it was always done with big industrial partners,”says Brendan Haley, senior director of policy strategy at Efficiency Canada. “What is new is the electrification of end uses, especially on the residential and commercial side, combined with digital technologies that allow communications to happen in real time. This enables rapid demand response.”

Many regions around the world are catching on. Vermont-based Green MountainPower sources power from solar-charged batteries, EV chargers and remote-controllable water heaters while incentivizing the use of smart thermostats. The company’s clean-energy network provides 72 megawatts of extra capacity that can be deployed in emergencies. In Germany, more than 144,000 home batteries automatically dispatch daily to help stabilize and bolster the grid in real time. Sunrun, the largest rooftop solar and home battery company in the United States, has enrolled more than130,000 systems in its VPP program. The distributed power plant supplies 480,000 homes with electricity.

Cost savings and reduced emissions

Utilities and consumers alike can realize significant cost savings by drawing on power from distributed energy sources. B.C. Hydro in British Columbia estimates that by coupling its energy-efficiencies program (Peak Saver) with a new VPP project using residential batteries for energy storage and supply, the utility will save customers as much as $80 million annually by 2030. The savings in energy will amount to more than 2,000 gigawatt-hours – enough to power more than 200,000 homes. B.C. Hydro’s director of energy management and innovation, Brandon Young, says that demand-side management and optimizing energy usage is cost effective “because the benefit to us is greater than the cost of all aspects of the generation and distribution that would be required to deliver that additional energy.”

Power plants only supply power. VPPs do that but can also store electricity and use energy more efficiently.

—Brendan Haley, senior director of policy strategy, Efficiency Canada

By shifting demand away from periods of peak usage, when the grid relies most heavily on fossil fuels, and redirecting energy consumption to times when carbon-free resources are available, distributed power plants directly contribute to lowering emissions.Again, the return on investment is compelling: a U.S. Department of Energy study found that VPPs are 40% to 60% cheaper than alternatives when it comes to managing peak demand.

Policies can obstruct growth

“VPPs provide more benefits than a conventional power plant,” Haley points out. “Power plants only supply power. VPPs do that but can also store electricity and use energy more efficiently.”

Ontario’s Independent Electricity System Operator (IESO) now runs a program called Save on Energy Peak Perks. Participants permit their utility to adjust their home thermostat up to 2°C during periods of peak electricity demand from June1 to the end of September. IESO reports that up to 90 megawatts are saved each time thermostats are activated – roughly equivalent to taking a mid-sized city off the grid.

Despite the benefits, regulatory regimes are a roadblock to expansion. In Canada, there is no requirement that customer-side sources be optimized.

“In states like Massachusetts, they’re required to invest in all energy efficiency that’s cost effective before paying for a supply-side measure or power plant,” Haley notes. “There’s no utility in Canada that has a similar rule, which, essentially, requires the demand-side option be considered first before a supply-side option.”

Indeed, capitalizing on small pools of existing power sources – before building out more infrastructure or firing up natural gas plants – may turn out to be key to helping the grid address its biggest challenges.

Victoria Foote is a writer and editorwho specializes in clean energy and climate.

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This story was originally published by Canary Media. It has been edited to conform with Corporate Knights style.

A novel solar power project just went online in California’s Central Valley, with panels that span across canals in the vast agricultural region.

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This story was originally published by Canary Media. It has been edited to conform with Corporate Knights style.

Hundreds of business people, policy analysts and conservative advocates filled a downtown Cleveland conference hall last week for the National Conservative Energy Summit. One major theme: the need for both the federal and local governments to remove increasingly high hurdles to building renewable energy.

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It was a grim start to the industry, and although wind energy has faced the normal uphill battle for any emerging technology, advancing peripatetically against financial and regulatory roadblocks, some of the old NIMBY superstition still seems to remain.

Last week, the U.S. Bureau of Ocean Energy Management, or BOEM, issued a stop-work order on the Revolution Wind project, which was 80% complete and expected to come online next year – bringing 704 megawatts of electricity to Connecticut and Rhode Island. In a letter to Ørsted, the company behind the project, BOEM cited national security concerns, without specifying what those concerns might be. On Saturday, the Trump administration cancelled US$679 million in funds that were meant to create manufacturing and logistics hubs for offshore wind at U.S. ports.

These are the latest in the Trump administration’s onslaught against renewables. On his first day in office, Trump paused new leasing and permitting of wind energy on federal land. The administration has gone on to end Biden-era tax credits for renewables, shut down the Lava Ridge Wind Project in Idaho, introduce byzantine regulations for projects on public land that will make renewables all but impossible to build, and announce plans to cancel an already-approved project off the coast of Maryland.

To some experts, the Trump administration’s latest actions against offshore wind look like a kill shot for the industry, one that will set it back decades. “International investors . . . look at the U.S. like a third-world country in terms of investment risk,” because it’s considered so politically unstable, said Hannes Pfeifenberger, principal at the economic consulting firm the Brattle Group. Pulling a project right before completion could scare off investors for years, even if a Democrat is elected in 2028.

“If you’re the next developer with a proposal for an offshore wind farm, the risk premium that you [would need] is going to be so much greater than it was for the existing facility,” Alexander Heil, a senior economist at the business think tank The Conference Board, told Grist. “That additional cost is going to find its way into utility bills, there’s no question about that. If the goal is ultimately cheap and available electricity, this is not the way to get there.” A recent study from Daymark Energy Advisors found that if contracted wind projects off the coast of New England had been in operation over the past winter, it could have saved ratepayers $400 million.

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In June, the iconic home-furnishing store announced it was launching solar panels for apartment balconies. “Small system, big impact,” Ikea writes on its German-based website, touting its “DIY solar solutions that help you generate your own solar power and become more independent from energy price developments.” 

For now, the “balcony power plants” are available only in Germany, which recently simplified rules about solar installation, removing grid operator registration for homeowners and allowing plug-in panels on balconies, like the ones now offered through Ikea. 

Solar is key to the energy transition. The International Energy Agency (IEA) says it is set to become the largest renewable-energy source by 2030, which as a whole will account for nearly half of global energy production by the end of the decade. Buoyed by its flexibility, portability and rapidly dropping costs, roughly 100 million households will rely on rooftop solar energy by 2030, according to the IEA, up from around 25 million in 2022. Solar will account for 80% of renewable-energy growth by 2030, the agency says. “To fully decarbonize the electricity sector, solar PV will have to be installed everywhere possible, starting with buildings. Households are essential in this development,” the IEA said in a report. 

The Ikea panel kits are produced by Swedish energy company Svea Solar. Three packages are available through Svea: the smallest and most suited to single-family homes comes with two panels, an inverter and AI app assistant, at a cost of €449 (roughly $724). A level up, for a three- to four-person household, includes four panels and an energy storage device at a cost of €1,280 ($2,065). Or you can customize the package and buy any number of panels required. 

Ikea estimates that a typical balcony power plant can save users between €200 and €600 per year and generate between 860 and 2000 kilowatt-hours per year. 

In many parts of the Global South, such as Nigeria and Pakistan, the surge in affordable Chinese-made solar panels has fuelled a natural transition to the renewable-energy source. China itself is driving this shift within its own borders, accounting for 60% of all renewable-energy expansion by 2030, according to the IEA. 

Solar energy is also booming in Europe, which has adopted policies aimed at decreasing its reliance on fossil fuels from Russia. Its initiatives include speeding up the rollout of photovoltaic solar, in part through new rooftop rules. 

For industry watchers, the Ikea move matters. “When generating clean electricity becomes as simple as assembling furniture, we’re looking at a fundamental shift in how people think about power generation,” wrote Javier Gascón Araujo, founder of a Madrid-based AI solutions firm for climate companies, on LinkedIn. 

“We need regulators to accelerate plug-in electricity permits to make this accessible Everywhere!!!” María Mendiluce, CEO of the We Mean Business Coalition, added on LinkedIn. 

Ikea was ranked 17th in Corporate Knights’ first ranking of the 25 most sustainable private-sector companies in the world this year, committing to halving its value chain emissions by 2030 and reaching net-zero emissions by 2050. Investigations by environmental groups such as Greenpeace have raised questions about some of the company’s supply chains, specifically around working with manufacturers that source wood from old-growth or protected forests. The company says it has shrunk its total climate footprint by 22% compared to 2016 and that it is focusing on using only “responsibly sourced renewable or recycled materials.” 

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