Elemental Energy

Elemental Energy

Founded in 2006 by Joe Houssian, Elemental Energy represents a direct pivot from the real estate development wealth he accumulated through Intrawest — the resort developer behind Whistler Blackcomb — and Intracorp, a major North American homebuilder. The firm develops, owns, and operates utility-scale renewable energy projects across Canada, functioning as a dedicated clean-energy platform rather than a generalist family office. The Houssian family's presence extends through the Houssian Foundation, a separate philanthropic vehicle run by members including Jamie Houssian, who also serves as a principal at Elemental Energy. Elemental Energy's portfolio spans wind, solar, and hydroelectric assets concentrated in Western Canada and the Maritimes. Confirmed projects include the Brooks Solar Project in Alberta, the Box Canyon Hydro Project in British Columbia, and the Chappice Lake Solar + Storage facility near Medicine Hat — the latter developed in partnership with Cold Lake First Nations. In Nova Scotia, the firm holds the Higgins Mountain and Wedgeport wind farms, alongside the St. Lawrence Wind Farm in Newfoundland. The strategy leans toward greenfield development and long-term ownership of operating assets, earning revenue through power purchase agreements rather than speculative technology bets. The geographic footprint stretches from British Columbia's Howe Sound to Newfoundland's coast. The firm does not publicly disclose total deployment or AUM. The operating portfolio includes at least seven named renewable energy installations, with solar and wind making up the bulk of capacity. Joe Houssian is a long-time member of YPO, and the firm maintains active ties to industry associations including Clean Energy BC and the Canadian Solar Industries Association. In September 2023, Elemental Energy advanced the Chappice Lake Solar + Storage project through Alberta's regulatory process, reinforcing its focus on hybrid renewable-plus-storage development in the province's deregulated electricity market (per public record). Elemental Energy's structure sets it apart from most family-backed investors in renewables. It functions as a corporate owner-operator, not a fund manager — it does not raise third-party capital cycles or charge management fees. Instead, it develops and holds assets directly, a model that mirrors the Houssian family's earlier real estate businesses: buy or build, operate for cash flow, and hold for the long term. The partnership with Cold Lake First Nations on the Chappice Lake project signals a meaningful equity-sharing model uncommon among private renewable developers, potentially reducing permitting and community-relations friction in future projects.