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Federal support for New Brunswicks energy priorities amounts to C$1.05bn ($742m).
The government of Canada has announced C$1bn ($707m) in funding for clean electricity projects in the New Brunswick region.
Alongside the Canada Infrastructure Bank (CIB), it agreed to support Indigenous-led wind projects with a capacity of up to 670MW.
The initiative is backed by the CIB’s Clean Power priority sector, the Indigenous Equity Initiative and Natural Resources Canada’s Smart Renewables and Electrification Pathways programe.
Further federal assistance could be provided through clean technology and clean electricity investment tax credits, amplifying the impact of these initiatives.
The projects, which emerged from NB Power’s request for expression of interest in 2023, are set to deliver emissions-free and cost-effective electricity to the residents and businesses of New Brunswick.
The Canadian government is also investing C$25m ($17.6m) in the 25MW Neweg Energy wind project through the same programme, a collaborative venture with the New Brunswick Mi’kmaq First Nations.
The North Shore Mi’kmaq Tribal Council will also receive $500,000 to support seven Mi’kmaq Nations in New Brunswick, providing resources and technical assistance to facilitate their participation in clean energy projects.
In a further commitment to sustainable energy, the electricity predevelopment programme is allocating C$25m to NB Power to develop 600MW of new small modular reactor (SMR) capacity at the Point Lepreau nuclear generation station.
This is in addition to C$2.1m previously announced for the North Shore Mi’kmaq Tribal Council in Eel Ground for the development of SMR supply chains and C$1.1m to Opportunities New Brunswick for a research and development framework for SMR technology.
Natural Resources Canada’s electricity predevelopment programme is providing C$1.3m to NB Power for the development of a reliability inter-tie between New Brunswick and Nova Scotia – the first phase of a modified Atlantic Loop.
This is complemented by C$10.6m from the strategic interties predevelopment programme. In total, the federal support for New Brunswick’s energy priorities amounts to C$1.05bn ($742m). |
