Facts about Atlantic Canada’s Energy Sector:
- There is more than $40 billion in planned capital spending on projects across Atlantic Canada beginning before 2030.
The Atlantica Centre for Energy closely monitors energy news across Atlantic Canada, including public investment decisions and new energy and economic research. The Centre calculated an estimated $42 billion in capital spending is planned on energy projects across the region beginning before 2030. These projects include:
*It is important to note this list is not all encompassing, and there is no guarantee all these projects will be developed.
** Advanced small modular reactors (aSMRs) are being developed in New Brunswick and are outlined in NB Power’s 2023 Integrated Resource Plan. These costs are not included in the investment forecasts as development costs have not been made public yet.
Sources:
- Government of Nova Scotia, Environment and Climate Change, NS-NB Reliability Intertie Project: https://novascotia.ca/nse/ea/ns-nb-reliability-intertie/
- Atlantic Economic Council, Implications for Atlantic Canada’s Economy in the Pursuit of Net-Zero Emissions: Economic Opportunities with Existing Clean Technologies, January 31, 2024: https://atlanticeconomiccouncil.ca/page/NetZeroExistingtechnologyJan2024
- Atlantic Economic Council, Implications for Atlantic Canada’s Economy in the Pursuit of Net-Zero Emissions: Economic Opportunities with Existing Clean Technologies, January 31, 2024: https://atlanticeconomiccouncil.ca/page/NetZeroExistingtechnologyJan2024
- Atlantic Economic Council, Implications for Atlantic Canada’s Economy in the Pursuit of Net-Zero Emissions: Economic Opportunities with Existing Clean Technologies, January 31, 2024: https://atlanticeconomiccouncil.ca/page/NetZeroExistingtechnologyJan2024
- Government of New Brunswick, NB Power recommends life achievement option for Mactaquac Generating Station, December 20, 2016: https://www2.gnb.ca/content/gnb/en/news/news_release.2016.12.1229.html
- Atlantic Economic Council, The Potential for New Infrastructure Projects to support Sustainable Growth in Atlantic Canada, February 13, 2024: https://atlanticeconomiccouncil.ca/page/infrastructureoppsecFeb2024
- Government of Newfoundland and Labrador, Premier Furey and Minister Parsons Comment on Bay du Nord Development Project, April 6, 2022: https://www.gov.nl.ca/releases/2022/exec/0406n06/
- Nova Scotia Utility and Review Board, Nova Scotia Power Incorporated Battery Energy Storage System (BESS) Project Capital Cost Approval Application, January 25, 2024: https://uarb.novascotia.ca/fmi/webd/UARB15
Notes:
- List of projects included were selected based on publicly available data.