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The Government of Canada announced over $1 billion in additional investments to ensure that as New Brunswick’s electricity demands grow substantially over the coming years, demands can be met with clean electricity that is both reliable and affordable.
NB Power estimates the following investments could help power up to 140,000 homes.
Up to $1 billion in federal support for up to 670 megawatts of Indigenous-led wind projects through the Canada Infrastructure Bank (CIB) Clean Power priority sector and Indigenous Equity Initiative as well as Natural Resources Canada’s Smart Renewables and Electrification Pathways program (SREPs).
$25 million from SREPs for the 25-megawatt Neweg Energy wind project, a partnership with the New Brunswick Mi’kmaq First Nations.
$500,000 to the North Shore Mi’kmaq Tribal Council to provide seven Mi’kmaq Nations in New Brunswick resources and technical support and enable direct participation in clean energy opportunities.
A commitment from Canada to work with New Brunswick and NB Power to support the conversion of the Belledune Generating Station from coal-fired power to biomass.
$1.6 million from Atlantic Canada Opportunities Agency (ACOA) to further investigate the conversion through engineering and planning studies, this is in addition to a previously announced $2 million from ACOA to evaluate different biomass fuel options.
$25 million to NB Power for predevelopment work for up to 600 megawatts in new small modular reactor (SMR) capacity at the Point Lepreau Nuclear Generation Station through NRCan’s Electricity Predevelopment Program.
$1.3 million to NB Power for predevelopment work on the modified Atlantic Loop transmission line between New Brunswick and Nova Scotia through NRCan’s Electricity Predevelopment program.“Canadians are leaders in generating clean electricity that powers our communities and beyond. Today’s shared commitment with New Brunswick is a clear signal that investing in clean electricity in New Brunswick creates jobs, drives economic growth, and positions New Brunswickers to take advantage of the economic opportunities presented by the clean economy, now and into the future. The federal government is a partner as we build a 21st century economy, underpinned by a clean electricity system, that places affordability and reliability at its core.” said Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources.
Officials also announced that the Government of Canada and the Government of New Brunswick have reached a common understanding on the forthcoming Clean Electricity Regulations that will provide the flexibilities needed to enable New Brunswick’s electricity system to grow and decarbonize all while ensuring it will be affordable, reliable, and non-emitting.
“We are very happy to be collaborating with federal and First Nations partners to grow our economy and decarbonize our electricity grid. Ensuring affordable and reliable energy for New Brunswickers and making progress on our clean energy commitments are priorities for our government,” said Susan Holt, Premier of New Brunswick.
The federal and provincial governments, in collaboration with First Nations partners, have already been partnering through the New Brunswick Regional Table to identify and accelerate shared economic priorities for a net-zero future in the province’s energy and resource sectors. Investments announced today demonstrate the commitment to continue to collaborate and to take action to grow and decarbonize the electricity grid.
“This is a very exciting day for New Brunswick. Our two governments are united by a common goal of building a clean grid in New Brunswick that can power homes and businesses with clean, reliable and affordable electricity. Switching to clean electricity can save New Brunswickers money on their monthly bills, while building that cleaner grid means more quality unionized jobs. Making sure our grid is zero-emitting is a major step to fighting climate change, truly a win-win-win for everyone,” said Steven Guilbeault, Minister of Environment and Climate Change.
“We have exciting opportunities before us that will lead to a cleaner environment, more economic growth and, most importantly, an affordable and secure energy supply for New Brunswickers,” said Finance and Treasury Board Minister René Legacy, who is also minister responsible for energy. “Here in New Brunswick, as well as throughout the Atlantic provinces, we face the highest rates of energy poverty in the country. This new federal funding for our priorities, as well as investment in Indigenous-led wind projects, takes us a step closer to meeting our clean energy goals and commitments.” |
