Canada Infrastructure Bank to work with the Government of Northwest Territories on Taltson Hydroelectricity Expansion Project
YELLOWKNIFE – Canada Infrastructure Bank (CIB) and Government of Northwest Territories (GNWT) today announced their advisory services engagement on the proposed Taltson Hydroelectricity Expansion Project. CIB will assist the GNWT in developing the project’s financial structure and business case.
This is CIB’s first opportunity to work with the Government of Northwest Territories and its first hydro electricity generation and transmission project. CIB has specialized infrastructure expertise and this project is consistent with one of its priority sectors – green infrastructure.
The Government of Northwest Territories has two isolated electricity transmission systems to service the North Slave (Snare Grid) and South Slave (Taltson Grid) regions. The GNWT plans to expand the existing Taltson generating station by constructing a new 60 megawatt, clean energy hydroelectric facility and 270 kilometres of transmission lines to connect the two electrical systems.
Once operational, the new Taltson generating station has the potential to eliminate an estimated 240,000 tonnes of green house gas emissions annually by replacing existing diesel power generation. It will also increase electricity reliability in the regions.
CIB’s work could lead to a future investment in the project, subject to all standard due diligence and decision making.
- Connecting the North Slave (Snare Grid) and South Slave (Taltson Grid) regions will improve service reliability, grid load challenges and regional resource balancing.
- CIB is focused on transformational projects that are in the public interest. Public transit, trade and transportation, green infrastructure and broadband are the priority sectors for investment.
- As a Crown corporation, CIB is mandated to use $35 billion in federal funding to attract private sector and institutional investment to new revenue-generating infrastructure projects.
- CIB’s Board of Directors is responsible for independently making investment decisions.
CIB is pleased to work with GNWT on this transformational project. The Government’s innovative hydroelectric proposal has the potential to produce a substantial amount of reliable, emissions-free renewable power for an area that includes 75 per cent of the Northwest Territories’ population. This advisory engagement is an important step towards making this project happen.
Pierre Lavallée, President and CEO, Canada Infrastructure Bank
The Canada Infrastructure Bank is playing a leading role in new infrastructure projects that have a positive impact on the environment and on communities. The CIB’s infrastructure expertise and its advisory function will be important to this partnership with the Government of Northwest Territories as they move forward with the Taltson hydroelectricity project.
Honourable François-Philippe Champagne, Minister of Infrastructure and Communities
The GNWT is looking forward to working with the CIB on the Taltson Hydroelectricity Expansion Project. CIB’s expertise will assist the GNWT in developing a strong business case and financial structure for the project, allowing us to deliver clean energy to the Slave Geological Province. This project will support the Government of the Northwest Territories in achieving the goals of its Energy Strategy, including stabilizing the cost of living and promoting renewable and alternative energy solutions.
Honourable Wally Schumann, Minister of Infrastructure and Industry, Tourism and Investment