SaskPower has announced its 2024-25 capital investment plan, which includes a $433 million increase over the previous year.
On Tuesday, the Crown corporation announced it would invest $1.6 billion in the state’s power system during the 2024-25 financial year.
SaskPower said the capital investment will ensure more reliable power and continue the modernization and decarbonization of the grid.
“Major projects like the Aspen Power Plant will directly drive economic growth in our province through the participation of local businesses,” said SaskPower Minister Dustin Duncan.
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Capital investments planned for 2024-25 include:
- $508 million to maintain and upgrade transmission, distribution, and generation assets;
- $710 million for new generation including Aspen power plant project and Ermine and Yellowhead expansions
- $311 million for growth projects such as connecting new customers to the grid
- The $67 million strategic investment will enable SaskPower to continue deploying smart meters and continue work on projects such as the Regina Operations and Maintenace Complex.
This year, SaskPower also brought online the Great Plains Generating Station near Moose Jaw, began operating the province’s first battery energy storage system near Regina, and added 200 megawatts of renewable energy capacity from its Beckever wind energy project near Kipling. I plan to add it.
“The transition to clean energy is the most significant change SaskPower has ever experienced, and successfully navigating it requires investment,” said Lupen, SaskPower President and CEO. Pandya said in a release.
“Looking to the future, our investments will continue to be focused on strengthening our power system and transitioning to lower carbon generation options.”
For more information about the future of SaskPower’s projects, please visit its website.
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