Canada Invests in Geothermal Exploration in Alberta
June 16, 2022 Hinton, Alberta Natural Resources Canada
The Government of Canada is advancing our transition to a low-carbon economy in Canada through strategic investments and innovative partnerships. As part of this commitment, Canada is advancing the deployment of smart renewable energy and enabling grid modernization technologies in various communities across the country to support the clean energy transition and the fight against climate change. Geothermal energy is one such type of clean, renewable energy that will help Canada achieve our ambitious climate targets.
Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources, announced a $5-million investment in Novus Earth to execute a front-end engineering design (FEED) study for the Latitude 53 geothermal energy project in the community of Hinton, Alberta.
Funding provided for the Latitude 53 Project will assist Novus Earth in its continued exploration of the geothermal resource and will provide critical resources to advance the project. Specifically, the funds will assist in de-risking the project through technical feasibility and FEED studies, as well as through supporting community engagement and skilled training initiatives essential to the success of the project.
The socio-economic benefits to Hinton and the surrounding Indigenous communities supported by the project are made possible through skill development, educational and curriculum opportunities, long-term employment and enhanced equality, diversity and inclusion.
Novus Earth and Mitacs National Research Organization are also contributing to the project, bringing the total investment to nearly $6.6 million.
Federal funding for this project is provided by Natural Resources Canada’s Smart Renewables and Electrification Pathways (SREPs) program, a four-year, $964-million program that provides support for smart renewable energy and electrical grid modernization projects. This program will significantly reduce greenhouse gas emissions by enabling increased renewable energy capacity that will provide essential grid services while supporting Canada’s ongoing transition to a net-zero economy by 2050 as well as Canada’s commitment to achieving a 100-percent net-zero-emitting electricity system by 2035.
Canada’s 2030 Emissions Reduction Plan: Clean Air, Strong Economy ensures Canada will remain a world leader in clean power. In Budget 2022, Canada committed to investing an additional $600 million over five years to the SREPs program to continue to support renewable electricity and grid modernization projects.
“Canada is actively developing cleaner and more reliable electricity supplies. That’s why the Government of Canada supports projects like the Latitude 53 Project that seek to explore and modernize geothermal technologies to lower emissions by creating a greener, more connected electrical grid. Projects like this will help Canada achieve a net-zero-emitting electricity system by 2035 while meeting our ambitious climate targets.”
The Honourable Jonathan Wilkinson
Minister of Natural Resources
“Success at Novus Earth hinges on a well-diversified, collaborative team with the management and technical capabilities to bring the Latitude 53 project to fruition. We are deeply engaged and passionate about reinventing the way energy is produced and consumed, solving real world problems with innovative solutions. The strong relationships built with academia, government, industry and the Hinton community will provide the additional expertise required for the proposed work.”
President of Novus Earth Energy
Natural Resources Canada
Office of the Minister of Natural Resources
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