In Episode 96 of The Business Development Podcast, host Kelly Kennedy interviews Dan Balaban, the Executive Chair and CEO of Greengate Power. Dan shares his entrepreneurial journey, from writing a million lines of code in his one-bedroom apartment to successfully launching Greengate. He discusses the company's vision to prove the viability of large-scale renewables in Canada, particularly in Alberta, and the challenges and successes they encountered along the way. Despite being a relatively small team of around 12 executives, Greengate has managed to lead the development of over $2 billion worth of projects, showcasing their efficient use of resources and strategic partnerships.
Throughout the episode, Dan and Kelly delve into the growth of the renewable energy industry in Alberta, the unique opportunities and challenges it presents, and the need for other provinces to step up in the green energy sector. Dan also emphasizes the importance of entrepreneurs taking care of themselves and finding balance amidst the challenges of building and sustaining a successful business. The episode concludes with Kelly's well wishes for an amazing 2024.
Key Takeaways:
• Embrace renewable energy resources and explore opportunities in wind and solar energy.
• Consider entering deregulated power generation markets to allow for commercial innovation.
• Navigate through regulatory hurdles and find buyers for power to justify the economics of renewable energy projects.
• Encourage other provinces to step up their efforts in renewable energy development.
• Ensure that the entrepreneurial journey is sustainable by taking care of oneself, both physically and mentally.
• Start small and grow steadily, leveraging third-party consultants and advisors to manage project development.
• Stay consistent with the initial vision of the company and be proud of the accomplishments achieved.
• Focus on proving the viability of large-scale renewables in the market.
• Build a strong team of hardworking individuals who can wear many hats and work with great partners to share the workload.
• Keep an eye on industry trends and technological advancements to identify new project opportunities, such as the decreasing costs of solar energy.