Canada Invests in a Net-Zero Roadmap to Support Electricity Modernization in Saint John, New Brunswick
Contify Energy News
Communities across Canada are advancing toward a sustainable, net-zero future. In New Brunswick, the Government of Canada is working with partners including local and Indigenous communities to scale up clean technology. Federal funding is provided by Canada’s Smart Renewables and Electrification Pathways Program. Up to $1.56 billion over eight years for smart renewable energy and electrical grid modernization projects. Key Highlights: * Budget 2023 included $3 billion over 13 years to recapitalize funding for the Smart Renewables and Electrification Pathways Program to support critical regional priorities and Indigenous-led projects. * Budget 2023 also includes $40 billion of historic investments in the grid. * The Canada Infrastructure Bank will provide $20 billion in low-cost financing from the Canada Infrastructure bank. Original Press Release: Saint John, New Brunswick, May 24 -- Natural Resources Canada issued the following news release: Communities across Canada are advancing toward a sustainable, net-zero future. In New Brunswick, the Government of Canada is working with partners including local and Indigenous communities to scale up clean technology and enhance clean energy deployment. Investments in these sectors are critical to delivering good jobs while unlocking economic opportunities for generations ahead. Today, Wayne Long, Member of Parliament for Saint John–Rothesay, on behalf of the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources, announced nearly $4 million for Saint John Energy’s Zero30 initiative to establish a net- zero roadmap that will provide a comprehensive plan to achieve net-zero emissions related to its operation as an electricity provider, including innovative customer options. The project will include working with key community stakeholders and partners, including First Nations, while assessing the methods and technologies needed to meet electrical load growth while reducing emissions. This will be achieved through deep scenario modelling on energy and pollution to support decision making on various emission reduction methods through an actionable roadmap for achieving net zero. The project will also support community-level decision making by making available data, summary studies and models to all stakeholders for greater dissemination. Federal funding for this project is provided by Canada’s Smart Renewables and Electrification Pathways Program (SREPs), with up to $1.56 billion over eight years for smart renewable energy and electrical grid modernization projects. This program is actively supporting the scaling of renewable energy capacity that will provide essential grid services while supporting Canada’s ongoing transition to a net-zero economy by 2050 and Canada’s commitment to achieve a 100-percent net-zero-emitting electricity system by 2035. Canada’s 2030 Emissions Reduction Plan: Clean Air, Strong Economy ensures Canada will remain a world leader in clean power. Budget 2023 included $3 billion over 13 years to recapitalize funding for the Smart Renewables and Electrification Pathways Program to support critical regional priorities and Indigenous-led projects. Budget 2023 also includes $40 billion of historic investments in the grid. This vital investment will be delivered in three ways: * a 15 percent refundable tax credit for non-emitting, and fully abated, electricity generation and stationary electricity storage systems, including batteries and equipment for the transmission of electricity between provinces and territories * $20 billion in low-cost financing from the Canada Infrastructure Bank * targeted electricity programs, where needed, to ensure critical projects get built From coast to coast to coast, communities across Canada are advancing toward a more sustainable and prosperous future. Quotes “The Government of Canada is pleased to support Saint John Energy in its Zero30 initiative. Canada’s clean grid is already a competitive advantage. To ensure that we can continue to attract investment and create more good, middle-class jobs, we need to keep increasing the supply of reliable, clean and affordable power right across Canada — including in New Brunswick. Through today’s investment, we’re doing that and advancing our goal of achieving net-zero emissions in Canada’s electricity sector by 2035.’ The Honourable Jonathan Wilkinson Minister of Natural Resources “The Government of Canada is investing in building a sustainable and strong economy in Saint John and in communities across Atlantic Canada. That’s clear from today’s $4 million investment in Saint John Energy’s Zero30 initiative to transform our growing electricity system, and from our investment in the 42 MW Burchill Wind Energy project. Investments like these are how we create good quality jobs for generations to come while taking ambitious climate action.” Wayne Long Member of Parliament for Saint John–Rothesay “Zero30 is one of the most important initiatives Saint John Energy has undertaken. It will map a critical path forward to net zero while helping our customers get there, too. With the help of leading partners, we will find the best solutions and innovations to help us build a cleaner energy future — not just for us, but for everyone.” Ryan Mitchell, President and CEO, Saint John Energy Source: Natural Resources Canada [Category: Movies & Entertainment, New Offerings]