Reports related to this article:
Project(s): View 4 related projects in PECWeb
Plant(s): View 4 related plants in PECWeb
Released April 15, 2022 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's federal government plans to expand clean electricity throughout the country, by allocating dollars from its most recent budget.
The budget commitment includes:
"Canada's electricity supply is among the cleanest in the world, thanks in large part to the dominance of hydropower and the important role of nuclear," said International Energy Agency (IEA) Executive Director Fatih Birol in the agency's report titled Canada 2022: Energy Policy Review. "Greater interconnections among provinces and territories can ensure balanced progress towards national goals for decarbonizing the power sector."
According to the Canadian Centre for Energy Information, as of January, renewable electricity accounted for almost 70% of Canada's total generation; hydropower accounted for the majority of that amount.
Britt Burt, Industrial Info's vice president of research for the Power Industry, has remarked that he expects the energy transition to affect power project activity in the U.S and Canada. For more information, see Industrial Info's January 21, 2022, article - 2022 Market Outlook: Power Industry Shifts with the Energy Transition.
Industrial Info is tracking US$28.7 billion worth of capital-spending renewable-energy projects in Canada that have a high and medium probability (70-99%) of moving forward as planned, more than half of which is attributed to hydropower.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a full list of detailed project reports.
Click on the image at right for a breakdown of Canada's renewable-energy project activity, by source.
AHP Development Corporation (Calgary, Alberta) is constructing the 370-MW Amisk Hydroelectric Generating Station in Alberta, located on the Peace River, which features 22 generators. When complete, the facility would generate enough electricity to supply roughly 350,000 Alberta residences, and also displace approximately 1.2 million tons per year of carbon dioxide (CO2), according to the project website. Subscribers can click here for more information.
Wind power accounts for the second-highest total investment value in terms of renewable-energy sources. Brookfield Asset Management Incorporated (NYSE:BAM) (Toronto, Ontario) subsidiary Evolugen's (Gatineau, Quebec) Thunder Mountain Wind Park near Tumbler Ridge, British Columbia, is in the planning stage. The 320-megawatt (MW) project, which is being developed in partnership with Aeolis Wind Power Corporation (North Saanich, British Columbia), will feature 160 wind turbines and is expected to kick off in 2024. Click here for more information.
Photovoltaic (PV) solar and utility-scale wind developer Greengate Power Corporation (Calgary) is at work on the 465-MW Travers PV Solar Project in Alberta, which will utilize Jinko solar panels. The project also includes constructing the Little Bow Substation, which will service the solar farm. Completion of both projects is expected at the end of the year. Subscribers can click here for reports on the solar farm and substation projects.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
The budget commitment includes:
- C$250 million (US$198.2 million) over four years to support pre-development activities for projects of "national significance," such as those for inter-provincial transmission and small modular reactors (SMRs)
- C$600 million (US$475.6 million) over seven years for the government's Smart Renewables and Electrification Pathways Program, which provides financial assistance to eligible projects during the construction phase, to support renewable electricity and grid modernization projects
- C$25 million (US $19.8 million) to work with provinces, territories and relevant stakeholders to develop net-zero energy plans
"Canada's electricity supply is among the cleanest in the world, thanks in large part to the dominance of hydropower and the important role of nuclear," said International Energy Agency (IEA) Executive Director Fatih Birol in the agency's report titled Canada 2022: Energy Policy Review. "Greater interconnections among provinces and territories can ensure balanced progress towards national goals for decarbonizing the power sector."
According to the Canadian Centre for Energy Information, as of January, renewable electricity accounted for almost 70% of Canada's total generation; hydropower accounted for the majority of that amount.
Britt Burt, Industrial Info's vice president of research for the Power Industry, has remarked that he expects the energy transition to affect power project activity in the U.S and Canada. For more information, see Industrial Info's January 21, 2022, article - 2022 Market Outlook: Power Industry Shifts with the Energy Transition.
Industrial Info is tracking US$28.7 billion worth of capital-spending renewable-energy projects in Canada that have a high and medium probability (70-99%) of moving forward as planned, more than half of which is attributed to hydropower.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a full list of detailed project reports.
Click on the image at right for a breakdown of Canada's renewable-energy project activity, by source.AHP Development Corporation (Calgary, Alberta) is constructing the 370-MW Amisk Hydroelectric Generating Station in Alberta, located on the Peace River, which features 22 generators. When complete, the facility would generate enough electricity to supply roughly 350,000 Alberta residences, and also displace approximately 1.2 million tons per year of carbon dioxide (CO2), according to the project website. Subscribers can click here for more information.
Wind power accounts for the second-highest total investment value in terms of renewable-energy sources. Brookfield Asset Management Incorporated (NYSE:BAM) (Toronto, Ontario) subsidiary Evolugen's (Gatineau, Quebec) Thunder Mountain Wind Park near Tumbler Ridge, British Columbia, is in the planning stage. The 320-megawatt (MW) project, which is being developed in partnership with Aeolis Wind Power Corporation (North Saanich, British Columbia), will feature 160 wind turbines and is expected to kick off in 2024. Click here for more information.
Photovoltaic (PV) solar and utility-scale wind developer Greengate Power Corporation (Calgary) is at work on the 465-MW Travers PV Solar Project in Alberta, which will utilize Jinko solar panels. The project also includes constructing the Little Bow Substation, which will service the solar farm. Completion of both projects is expected at the end of the year. Subscribers can click here for reports on the solar farm and substation projects.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
