Canada Announces $500 Million for Clean Energy Projects

Canada Announces $500 Million for Clean Energy Projects

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Canada recently announced an additional investment of 500 million Canadian dollars in the Smart Renewables and Electrification Pathways (SREPs) program. This initiative aims to fund new renewable energy projects to support the transition to a cleaner and more efficient electrical grid. Canadian Minister of Energy and Natural Resources, Jonathan Wilkinson, emphasized the importance of this measure to strengthen grid reliability and meet the growing demand for electricity. The government is also calling on private investors to actively participate in financing the country’s energy transition.

This new funding brings the total of the SREPs program to approximately 4.5 billion Canadian dollars. Since its launch in 2021, the program has approved funding for 72 projects, enabling the deployment of about 2,700 megawatts of new renewable energy capacity. These projects are expected to produce enough electricity to power 700,000 homes annually and reduce carbon dioxide equivalent (CO2e) emissions by more than 3.1 megatons per year. The investments notably aim to modernize existing infrastructures, improve grid reliability, and integrate new renewable energy sources.

A Strong Growth in Energy Demand

The increase in electricity demand is partly attributed to the proliferation of data centers across the country. Canadian utility companies now have to incorporate the electricity consumption of these centers into their forecasts. For example, Hydro-Québec anticipates an increase of 4.1 terawatt-hours in electricity demand from data centers between 2023 and 2032. Similarly, electrical system operators in Ontario and Alberta are taking this growth into account in their energy outlooks.

The government estimates that to achieve carbon neutrality, Canada will need to invest between 125 and 140 billion Canadian dollars per year. This figure underscores the scale of investments required to transform the country’s energy landscape. In addition to public funds, the government emphasizes the importance of private investments to bridge this financial gap. The call for private investment is also supported by new guidelines aimed at attracting global capital to clean energy projects in Canada.

New Guidelines for Sustainable Investments

Alongside this funding, the Canadian government unveiled a new framework for climate investment taxonomy. Announced on October 9, these voluntary guidelines, dubbed “Made-In-Canada,” aim to strengthen private investments in the decarbonization of the energy sector. The government asserts that beyond financial incentives, investors need robust and transparent guidelines to credibly classify their investments in the clean economy on the path to carbon neutrality.

Furthermore, Canada will mandate “climate-related financial disclosures for large, federally incorporated private companies.” According to the government, these mandatory disclosures will attract more private capital and allow for better competitiveness on the international stage. Jonathan Arnold, Research Lead at the Canadian Climate Institute, welcomed these initiatives, stating that they set the stage for a “major acceleration of Canada’s clean energy transition.”

A Call for Public-Private Collaboration

Minister Wilkinson stressed the necessity of close collaboration among provincial and territorial governments, Indigenous communities, and non-governmental partners to achieve the common goals of a clean and energy-efficient electrical grid. The funds allocated in this latest funding cycle will be awarded to projects that modernize existing assets, increase grid reliability, add new renewable energy resources, and help meet the growing demand for electricity.

Since 2021, the SREPs program has demonstrated its effectiveness by supporting projects that significantly contribute to reducing greenhouse gas emissions and transitioning to renewable energy sources. The funded initiatives not only promote economic growth but also strengthen Canada’s position as a global leader in clean energy. The government continues to encourage investments that support these environmental and economic objectives.

Singapore strengthens its energy strategy through public investments in nuclear, regional electricity interconnections and gas infrastructure to secure its long-term supply.
As oil production declines, Gabon is relying on regulatory reforms and large-scale investments to build a new growth framework focused on local transformation and industrialisation.
Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.
Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
The government of Kinshasa has signed a memorandum of understanding with Vietnam's Vingroup to develop a 6,300-hectare urban project and modernise mobility through an electric transport network.
ERCOT’s grid adapts to record electricity consumption by relying on the growth of solar, wind and battery storage to maintain system stability.
The French government will raise the energy savings certificate budget by 27% in 2026, leveraging more private funds to support thermal renovation and electric mobility.
Facing opposition criticism, Monique Barbut asserts that France’s energy sovereignty relies on a strategy combining civil nuclear power and renewable energy.
The European Commission is reviving efforts to abolish daylight saving time, supported by several member states, as the energy savings from the practice are now considered negligible.
Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
The Finance Committee has adopted an amendment to overhaul electricity pricing by removing the planned redistribution mechanism and capping producers' profit margins.
The European Commission unveils a seven-point action plan aimed at lowering energy costs, targeting energy-intensive industries and households facing persistently high utility bills.
The European Commission plans to keep energy at the heart of its 2026 agenda, with several structural reforms targeting market security, governance and simplification.
The new Liberal Democratic Party (LDP)–Japan Innovation Party (Nippon Ishin no Kai) axis combines a nuclear restart, targeted fuel tax cuts and energy subsidies, with immediate effects on prices and risk reallocations for operators. —
German authorities have ruled out market abuse by major power producers during sharp price increases caused by low renewable output in late 2024.
A new International Energy Agency report urges Maputo to accelerate energy investment to ensure universal electricity access and support its emerging industry.
Increased reliance on combined-cycle plants after the April 28 blackout pushed gas use for electricity up by about 37%, bringing total demand to 267.6 TWh and strengthening flows to France.
The United States announces a tariff increase beyond the 10% base rate targeting several Colombian products. Bogotá has recalled its ambassador. The detailed list of tariff lines has not yet been published, while Colombia’s ban on coal exports to Israel remains in effect.
The president-elect outlines a pro-market agenda: gradual reform of fuel subsidies, review of Yacimientos de Litio Bolivianos (YLB) lithium contracts, and monetization of gas transit between Argentina and Brazil, prioritizing supply stabilization.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.