December 8, 2024 Dieppe, New Brunswick Natural Resources Canada
In the 21st century, a reliable and affordable clean electricity grid is the backbone of a strong economy. Today more than 80 per cent of Canada's electricity is generated from clean sources like hydropower, wind, solar, and nuclear - and it's a big part of the reason why companies are choosing to invest in Canadian workers and business. In New Brunswick, renewables projects are already creating good jobs and delivering more affordable power to the grid. By taking action to expand clean power, new economic opportunities are being unlocked while families and workers are getting ahead.
Today, the Honourable Steven Guilbeault and the Honourable Dominic LeBlanc announced over $1 billion in additional investments to ensure that as New Brunswick's electricity demands grow substantially over the coming years, we meet demand 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.
The Ministers 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.
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.
As demand for electricity grows, the opportunity to power our communities and the world with clean, affordable, and reliable power is a win-win-win - for workers, for affordability, and for the environment. The Government of Canada's plan is working to drive GHG pollution down while the economy grows and inflation cools. Together, with provinces and territories, Indigenous Peoples, municipalities, industry and workers, the Government of Canada is seizing the opportunity ahead to build a strong economy with good jobs, and to ensure a healthy environment for our children and grandchildren.
