Victoria: The Province has said BC Hydro will move forward with a call for new sources of renewable, emission-free electricity to power British Columbia’s growing clean economy and create new jobs throughout the province.
The call is expected to launch in spring 2024, the province added.
In addition, the Province will provide $140 million to the B.C Indigenous Clean Energy Initiative to support Indigenous-led power projects, create economic opportunities for First Nations, and advance community self-determination.
“As we face the threat of a record fire season across Canada, the need to switch to clean power to fight climate change has never felt more urgent. The good news is that from electric cars to electrified heavy industry, British Columbians are taking action,” said Premier David Eby.
“To guarantee the affordable power for this important transition, we’re working in partnership with First Nations and BC Hydro to generate more of the clean electricity that British Columbia needs to build the economy, and grow our role as a clean-energy superpower,” he said.
According to the Province, electricity demand is expected to increase by 15 per cent between now and 2030. The reason behind an increase in electricity demand is said to be due to economic and population growth, and as more homes, businesses and industries switch from fossil fuels to clean electricity.
In a statement, the B.C. government said updated demand forecasts filed by BC Hydro with the B.C. Utilities Commission today confirmed that new sources of electricity will be required sooner than previously expected. To ensure that it’s ready to procure new power supply, BC Hydro is moving forward with the development of a competitive process to acquire more clean electricity.
BC Hydro will only acquire 100% clean, renewable electricity, including wind and solar, the province said.
“First Nations are key partners as we work to power B.C.’s growing clean economy with clean, renewable electricity,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation.
“Funding for the B.C. Indigenous Clean Energy Initiative will open up new opportunities for First Nations in clean-energy projects, including wind and solar, create local jobs, and support Indigenous self-determination,” she said.
Josie Osborne said the Province’s $140 million contribution to the B.C. Indigenous Clean Energy Initiative will support smaller Indigenous-led power projects that may otherwise not be competitive due to their smaller size.