CanNor-10-073
Yellowknife (Northwest Territories), March 21, 2011 – Three projects that explore the potential to expand hydro energy in the Northwest Territories have moved forward thanks to investments by the Canadian Northern Economic Development Agency (CanNor).
The Honourable John Duncan, Minister of the Canadian Northern Economic Development Agency today announced an investment of $900,000 to study the potential for expanding markets and developing more hydro power in the Territory.
"The Government of Canada recognizes that hydro is a reliable, renewable energy source that holds great promise to meet the energy needs of communities and industry in Canada's North," said Minister Duncan, who is also Minister of Indian Affairs and Northern Development and Federal Interlocutor for Métis and Non-Status Indians. "These studies will help project proponents, governments, and investors make informed decisions about the future direction of hydro energy production in the Territory."
"Replacing fossil fuels with locally generated energy from renewable sources like hydro strengthens local infrastructure, benefits the environment, and provides economic opportunities for local communities," said the Honourable Leona Aglukkaq, Member of Parliament for Nunavut, Regional Minister for the North and Minister of Health. "The Government is proud to support projects that improve the economic knowledge-base and support strategic business planning."
The three funded initiatives include a feasibility study by the Tlicho Investment Corporation on the proposed La Martre Falls Hydro project, due diligence studies by the Metis Energy Company on the proposed Taltson Hydro Expansion project, and a series of market research and renewable energy infrastructure studies by the NT Hydro Corporation.
Funding for these projects came from CanNor's Strategic Investments in Northern Economic Development (SINED) program. CanNor provides funding for northern projects that contribute to long-term economic growth, economic diversification, and capacity building in the three territories. SINED is one of a number of economic development programs delivered by CanNor in Yukon, the Northwest Territories and Nunavut.
Backgrounder - CanNor Supports Research into Hydro Energy in the NWT
Please visit these web sites to learn more about Canada's Economic Action Plan and Canada's Northern Strategy.
For further information, please contact:
Office of the Honourable John Duncan
Michele-Jamali Paquette
Press Secretary
(819) 997-0002
Canadian Northern Economic Development Agency
Petra White
Communications Advisor
867-766-8435
