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SaskPower plans US$850 million capital spend for 2023-24
- 1 year, 6 months ago (2023-05-19)
- David Flin
SaskPower of Canada has announced plans to invest C$1.15 billion (US$850 million) during fiscal year 2023-24 to modernise, sustain, and expand Saskatchewan’s electricity system.
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The planned capital expenditures include C$517 million to maintain and upgrade existing transmission, distribution, and generation assets, and C$505 million in growth projects, including investments in new natural gas plants such as the Great Plains Power Station and the Aspen Power Station to be located near Lanigan, Saskatchewan. C$129 million will be invested in smart meter deployment.
Rupen Pandya, President and CEO of SaskPower, said: “Decarbonising a growing power grid is a once in a lifetime challenge, and making the right investments now will help to position SaskPower to provide reliable, sustainable, and cost-effective electricity to customers in the years and decades to come.”
The planned capital work includes:
- Major generation projects such as the ongoing EB Campbell and Coteau Creek refurbishments and Ermine/Yellowhead Power Station expansions.
- Transmission line upgrades to the Spiritwood, Prairies River, and Hudson Bay substations.
- Rural power line rebuilds.