SaskPower has announced its 2024-25 capital spending plans, which include a $433 million increase from last year.
On Tuesday, the Crown corporation announced it would invest $1.6 billion in the provincial electricity system during the 2024-25 fiscal year.
SaskPower said the capital spending will ensure more reliable electricity, and continue the modernization and decarbonization of the grid.
“Major projects like the Aspen Power Station will directly drive economic growth in our province, regardless of the involvement of local companies,” said Dustin Duncan, the minister responsible for SaskPower.
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Capital expenditure planned for 2024-25 includes:
- $508 million for maintenance and upgrades of transmission, distribution and generation assets
- $710 million on new generation, including the Aspen Power Station project and the Ermine and Yellowhead expansions
- $311 million in development projects, including connecting new customers to the grid
- $67 million in strategic investments that will allow SaskPower to continue smart meter deployment and work on projects such as the Regina Operations and Maintenance Complex.
This year, SaskPower will also commission the Great Plains Power Station near Moose Jaw, begin operation of the province’s first battery energy storage system near Regina, and add 200 megawatts of renewable energy capacity from the Bakewell Wind Energy Project near Kipling.
“The clean energy transition is the most significant change SaskPower has ever experienced and will require investment to successfully complete it,” SaskPower President and CEO Rupen Pandya said in a release.
“As we look to the future, our investments will remain focused on strengthening our power system and moving toward low-carbon generation options.”
More information about the future of SaskPower’s projects can be found on its website.
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