Clean Energy Investments For Even Greener Results
Renew Canada, the national voice of infrastructure, recently published its annual Top 100 Biggest Infrastructure Projects, ranking various sectors from transport and transit to buildings and energy. More importantly, a whopping 7 out of the top 10 projects are energy infrastructure projects, worth over $68 billion in total, with the energy sector representing nearly 70% of the biggest infrastructure investments in Canada!
#1 Bruce Power Nuclear Refurbishment (Nuclear – ON)
#2 Darlington Nuclear Refurbishment (Nuclear – ON)
#3 Muskrat Falls Project (Hydro – NL)
#5 Site C Clean Energy Project (Hydro – BC)
#6 Keeyask Hydroelectric Project (Hydro – MB)
#7 Romaine Complex (Hydro – QC)
#9 Bipole III Transmission Line (Transmission – AB)
Many of our country’s other electricity assets are reaching their lifecycle end and require similar investments. Much of the system, built a generation ago, now needs to be replaced or require significant refurbishment.
In a recent report, the Conference Board of Canada estimated that until 2030 there will be a need of some $350 billion of investment in our electricity system to meet the demands of a growing population and new technologies. While the investment won’t be cheap and will likely impact consumer pricing, without it, the economic cost of letting the system further deteriorate will be much greater.
The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities is currently working with his provincial and territorial counterparts on new bi-lateral infrastructure investment agreements. As Ministers work to conclude their agreements, they must address our aging electricity infrastructure. Already experiencing a range of minor and major impacts from climate change, these forces are predicted to continue to worsen, battering and further weakening critical infrastructure.
Canada’s electricity sector operates at the nexus of economic growth and environmental protection. It is uniquely positioned to further deepen reductions of GHGs, through the electrification of higher emitting sectors such as transportation, space heating and industrial processes.
“Our government firmly believes that Canadians don’t have to make the choice between building a stronger economy and protecting our environment. We can do both, we need to do both, and we are doing both. A strong economy where we invest in new technology, where we invest in green infrastructure allows us to not only make our communities green but also allows us to create jobs.”
– Amarjeet Sohi, Minister of Infrastructure, Renew Canada
Investing in Canada’s electricity system will create jobs, promote clean economic growth and ensure that Canada continues to be among the world’s leaders in the production of clean, reliable, and sustainable electricity, with already over 82% of electricity generation free of greenhouse gases. That said, Canadian electricity companies aren’t resting on their laurels. They have ambitious goals and plan to reduce carbon emissions even further in the coming years.
Clean energy is the future. Investing in Canada’s electricity system is the right thing to do. It creates thousands of jobs, promotes a clean future and directly supports the lifestyle for which Canadians have become accustomed. In this case, these seven mega energy infrastructure projects are good examples of how the electricity sector is ready to power Canada’s shift to a greener future.