October 10, 2024 Toronto, Ontario Natural Resources Canada
The Government of Canada is supporting Canadian utilities and system operators that are working to clean their electricity, integrate clean solutions such as utility storage systems and micro grids, and meet the demands of increased electrification at the least cost to rate payers. These measures are enabling clean growth and ensuring a healthier environment for our communities. Canada's electricity systems will be the backbone of Canada's clean economy and central to our efforts to fight climate change and build a more prosperous economy for Canadian workers and businesses.
Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources announced up to $500 million in funding for the Smart Renewables and Electrification Pathways program (SREPs) Utility Support Stream. SREPs was recapitalized with nearly $2.9 billion in Budget 2023 and supports clean electricity infrastructure - such as renewable energy technologies, energy storage and grid modernization technologies - that strengthen the electricity grid. Through the program, the federal government will support even more clean electricity projects.
This latest round of the SREPs program is launching its first of several intake processes today. The Request for Expressions of Interest for the Utility Support Stream (USS) is now open to utilities, system operators and industry organizations seeking to modernize to enable greater renewable energy integration or expand transmission and distribution systems while maintaining reliability and affordability. This represents an additional step in the Government of Canada's work to support provinces and territories, as well as electricity operators, to achieve a clean grid in line with industry and government goals. This work - which reflects mutual objectives reached through the Regional Energy and Resources Tables - is injecting much-needed funds into the Canadian electricity sector to modernize and future-proof grids as they withstand growing populations, high demand and increasing extreme weather events.
Projects funded under the USS will:
- improve the utilization and efficiency of existing assets;
- increase the reliability, resiliency, and flexibility of the power system;
- increase the integration and use of renewable resources and non-conventional infrastructure solutions;
- generate economic and social benefits; and
- help accommodate growing demand for clean and affordable electricity.
More intake processes for other types of projects will be launched over the next few months.
Today's announcement took place at the University of Toronto, host of Canada's future first grid modernization centre that previously benefited from $10 million in federal government funding, where the Minister also took the opportunity to announce the YMCA of Greater Toronto's Energy and Climate Strategies Project, which previously received $768,750 in SREPs funding to complete studies and to explore renewable technologies, including geothermal, solar photovoltaic (PV), solar thermal, microgrid and battery storage. Investments like this lead to renewable energy projects that clean the air in our communities.
The Government of Canada is taking every step to build a clean, reliable and affordable electricity system across the country.
