Energy Economy

05 Jun 2021

Canada Invests Over $960 Million in Grid Modernization, Renewable Energy Projects

05 Jun 2021  by TDWorld   

The government of Canada has announced it is investing in renewable energy and in upgrading the electricity grid to make clean, affordable electricity options more accessible in communities across Canada.

The Honourable Seamus O'Regan Jr., Minister of Natural Resources, on June 2 launched a $964 million program to support smart renewable energy and grid modernization projects that will lower emissions by investing in clean energy technologies, like wind, solar, storage, hydro, geothermal and tidal.

The Smart Renewables and Electrification Pathways Program (SREPs) supports building Canada's low-emissions energy future and a renewable, electrified economy through projects that focus on non-emitting, cleaner energy technologies, such as storage, and modernizing electricity system operations.

Investing in these technologies reduces greenhouse gas emissions by creating a cleaner, more connected electrical system that helps Canada reach net-zero emissions by 2050.

Minister O'Regan launched the program during the Canadian Electricity Association's (CEA) virtual regulatory forum on Electricity Regulation & the Four Disruptors - Decarbonization, Decentralization, Digitalization and Democratization. The launch also coincides with Canadian Environment Week, which celebrates Canada's environmental accomplishments and encourages Canadians to contribute to conserving and protecting the environment.

Through SREPs and other programming, the government is working with provinces and territories, utilities, Indigenous partners and others, including diverse businesses and communities, to deliver these clean and reliable energy initiatives. With Canadian innovation, technology and skilled energy workers, we can provide more communities, households and businesses with an increased supply of clean electricity and a cleaner electrical grid.

To help interested stakeholders find information on SREPs, a new webpage has been launched, which includes a comprehensive guide for eligible projects.

This supports Canada's strengthened climate plan, A Healthy Environment and a Healthy Economy. Canada is advancing projects that support the clean grid of the future. Collectively with investments from the Fall Economic Statement 2020 and Budget 2021, Canada will achieve our climate change commitments and ensure a healthier environment and more prosperous economy for future generations.

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