On June 2, 2021, Natural Resources Canada (NRCan) announced its
Smart Renewables and Electrification Pathways Program (SREPs) in
support of Canada's ongoing effort to reach net-zero emissions
by 2050.
The $964-million commitment will reduce greenhouse gas emissions
over four years by encouraging the replacement of fossil-fuel
generated electricity with cleaner energy technologies, such as
wind and hydro. To facilitate this transformation to Canada's
electric grid, SREPs offers financial assistance to eligible
projects during the construction phase. This investment in smart
renewable energy and grid modernization projects will make clean,
affordable electricity more accessible in communities across the
country and improve the connectivity and efficiency of Canada's
existing electrical infrastructure.