The government of Canada has allocated C$1 billion ($707 million) in funding for clean electricity projects in the New Brunswick region.
The initiative, in collaboration with the Canada Infrastructure Bank (CIB), aims to support Indigenous-led wind projects with a total capacity of up to 670 MW.
This effort is backed by the CIB’s Clean Power priority sector, the Indigenous Equity Initiative, and Natural Resources Canada’s Smart Renewables and Electrification Pathways program.
Additional federal assistance may be available through clean technology and electricity investment tax credits to amplify the impact of these projects.
These initiatives, which originated from NB Power’s request for expression of interest in 2023, aim to provide emissions-free and cost-effective electricity to New Brunswick’s residents and businesses.
Furthermore, the Canadian government is investing C$25 million ($17.6 million) in the 25 MW Neweg Energy wind project, a joint venture with the New Brunswick Mi’kmaq First Nations. The North Shore Mi’kmaq Tribal Council will receive $500,000 to support seven Mi’kmaq Nations in New Brunswick, providing resources and technical assistance to help them participate in clean energy projects.
The government is also allocating C$25 million for the development of 600 MW of small modular reactor (SMR) capacity at the Point Lepreau nuclear generation station, in addition to previous investments of C$2.1 million for the North Shore Mi’kmaq Tribal Council and C$1.1 million for Opportunities New Brunswick.
The electricity predevelopment program is providing C$1.3 million to NB Power for the development of a reliability intertie between New Brunswick and Nova Scotia. This initiative marks the first phase of a modified Atlantic Loop. The C$10.6 million allocation from the strategic interties predevelopment program brings the total federal support for New Brunswick’s energy priorities to C$1.05 billion ($742 million).