Canada invests close to $1B in renewable energy and grid modernization

by DailyBriefers

The Government of Canada has 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 energy.

Illustration/Tidal turbine being deployed in the Bay of Fundy in Canada (Courtesy of FORCE)
Illustration/Tidal turbine being deployed in the Bay of Fundy in Canada (Courtesy of FORCE)

The Government of Canada is investing in renewable energy and upgrading the electricity grid to make clean, affordable electricity options more accessible in communities across the country through the program called Smart Renewables and Electrification Pathways Program (SREPs).

SREPs will support 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 will help Canada reach net-zero emissions by 2050, the government said.

Launching the program, Seamus O’Regan Jr., Minister of Natural Resources in Canada, said: “Our new Smart Renewables and Electrification Pathways Program will increase our grid’s renewable capacity and improve its reliability and resiliency. This means a cleaner, more reliable electricity supply for Canadians. This is how we get to net-zero by 2050”.

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.

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

The program is said to support Canada’s strengthened climate plan – A Healthy Environment and a Healthy Economy.

Collectively with investments from the Fall Economic Statement 2020 and Budget 2021, the Government of Canada said it expects to achieve its climate change commitments and ensure a healthier environment and more prosperous economy for future generations.

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