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Advancing Energy Transition Efforts – Canada Invests $960M in Grid Modernization Projects

Advancing-Energy-Transition-Efforts-Canada-Invests-960M-in-Grid-Modernization-Projects

On Wednesday, Seamus O’Regan Jr., Minister of Natural Resources Canada, launched a $964-million program to support smart renewable energy and grid modernization projects. Accordingly, this initiative aims to lower emissions by investing in clean energy technologies; for instance, wind, solar, storage, hydro, geothermal and tidal. 

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About the Smart Renewables and Electrification Pathways Program

In this way, The Smart Renewables and Electrification Pathways Program (SREPs) will support building Canada’s low-emissions energy future, says the Minister. Moreover, the program will help Canada achieve a renewable, electrified economy through projects that focus on non-emitting, cleaner energy technologies.

Thus, the initiative includes developing clean energy solutions such as storage and modernizing electricity system operations.

“Our new Smart Renewables and Electrification Pathways Program will increase our grid’s renewable capacity. Moreover, it will improve its reliability and resiliency, said O’Regan. Thus, “this means a cleaner, more reliable electricity supply for Canadians. This is how we get to net-zero by 2050.”

Indeed, “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,” continued the Minister in a statement.

Worth noting, the program was launched in the framework of the Canadian Electricity Association’s (CEA) virtual regulatory forum. Particularly, this year’s conference addressed Electricity Regulation & the Four Disruptors, which are Decarbonization, Decentralization, Digitalization, and Democratization.

The launch also coincides with Canadian Environment Week. This event celebrates Canada’s environmental accomplishments and encourages Canadians to contribute to conserving and protecting the environment.

Canada on advancing the energy transition further

In this sense, through SREPs and other programs, the government is working with several actors to deliver clean and reliable energy alternatives. For instance, the federal administration closely works with provinces and territories, utilities, Indigenous partners, and others, including diverse businesses and communities.

According to Mr. O’Regan, with Canadian innovation, technology, and skilled energy workers, the country can provide more communities, households, and businesses with an increased supply of clean electricity and a cleaner electrical grid.

Finally, to help interested stakeholders find information on SREPs, a new webpage has been launched. To illustrate, this website includes a comprehensive guide for eligible projects.

Moreover, this initiative supports Canada’s strengthened climate plan, A Healthy Environment, and a Healthy Economy. Thus, Canada is advancing projects that support the clean grid of the future. 

Indeed, collectively with investments from the Fall Economic Statement 2020 and Budget 2021, the country will likely achieve its climate change commitments. Also, it is on the way to ensuring a healthier environment and a more prosperous economy for future generations.

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