MACTAQUAC, NB — The federal government says it will spend more than $260 million to help New Brunswick modernize a pair of energy projects.
The bulk of the money is a $219-million loan from the Canada Infrastructure Bank to upgrade the province’s largest hydroelectric dam, located west of Fredericton on the Saint John River.
New Brunswick’s electric utility is preparing the 672-megawatt Mactaquac Generation Station for a multibillion-dollar overhaul aimed at extending its operational life to 2068.
Natural Resources Canada says the funding will support technical studies, regulatory reviews, First Nations engagement and planning. Crown-owned NB Power decided in 2016 to spend up to $3.6 billion to prolong the life of the dam, which would have otherwise been decommissioned by 2030 due to concrete swelling.
Federal Energy Minister Tim Hodgson says investing in New Brunswick’s power grid will attract more investment and jobs to the province. NB Power will also receive from Ottawa $50 million for an upgrade to the Salisbury Terminal, which is key to managing the flow of electricity across the provincial power grid.
