The Government of Canada Announces New Intake for Clean Electricity Program With $500 Million in Additional Funding

TORONTO, Oct. 10, 2024 /CNW/ – 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.

Quotes

“By making historic investments in clean electricity, this government is positioning Canadians to take advantage of the economic opportunities presented by the clean economy, now and into the future. The Smart Renewables and Electrification Pathways program is already providing Canadian communities across the country with affordable and clean power while reducing greenhouse gas emissions. I am pleased to celebrate the ongoing successes of this program and to announce the opening of the Utility Support Stream as of today. This next step will allow us to support even more projects as we work with provinces, territories, Indigenous governments and non-governmental partners as we work toward our common goal of an energy-efficient and money-saving clean grid. I look forward to seeing the results of this new funding as it improves energy infrastructure from coast to coast to coast.”

The Honourable Jonathan Wilkinson

Minister of Energy and Natural Resources

“The support from the Smart Renewables and Electrification Pathways program has been pivotal in helping the YMCA of Greater Toronto enhance our charity’s sustainability efforts. The funding allowed us to complete critical studies that will lead to the implementation of renewable energy solutions across our facilities, including geothermal energy. This marks a major step in reducing our carbon footprint and building a more resilient future.”

Lesley Davidson, President and CEO

YMCA of Greater Toronto

Quick Facts

Launched in 2021, SREPs works with provinces, territories and Indigenous Peoples to support critical regional priority projects that reduce dependence on fossil fuel generation and create pathways for a stronger electricity grid system. The program also incorporates transmission and distribution infrastructure and continues to support grid modernization activities, energy storage and Indigenous-led clean energy projects. The SREPs critical regional priorities stream (CRP) identifies projects through continuous engagement directly with the provincial or territorial representatives and existing work being done by the Regional Energy and Resource Tables.

Since 2021, SREPs has approved funding for 72 projects, enabling the deployment of approximately 2,700 megawatts of new renewable energy capacity, which will produce enough electricity to power 700,000 homes annually and displace over 3.1 megatonnes of CO2e per year.

Budget 2023 re-capitalized SREPs with an additional ~$2.9 billion over 13 years starting in 2023–24. This builds on $1.56 billion (from Budgets 2021 and 2022) to support the de-carbonization of the electricity sector and enable a clean grid.
This approximately $4.5-billion program is designed to significantly reduce emissions and create sustainable jobs by continuing to support the deployment of grid modernization, energy storage and renewables in every region of Canada.
61 percent of approved deployment projects to date have Indigenous ownership.
SREPs is actively supporting Canada’s ongoing transition to a net-zero economy by 2050.
Last year, the Government of Canada released Powering Canada Forward, its vision for transforming Canada’s electricity sector and meeting its commitment to decarbonizing the country’s electricity systems.