Value
Provides up to $964 million over four yearsDescription
The Smart Renewables and Electrification Pathways Program (SREPs) provides up to $964 million over four years for smart renewable energy and grid modernization projects. This program will significantly reduce greenhouse gas emissions by encouraging the replacement of fossil-fuel generated electricity with renewables that can provide essential grid services while supporting Canada’s equitable transition to an electrified economy.
Eligible Applicants
Eligible recipients are owners of Eligible Projects and may include:
- Legal entities validly incorporated or registered in Canada;
- Provincial, territorial, regional and municipal governments and their departments and agencies;
- Indigenous communities and governments, Tribal Councils, National and regional
- Indigenous councils or organizations, and Indigenous for-profit and not-for-profit organizations.
Note: Where an Applicant is a newly formed Limited Partnership, the Program may require the Applicant to secure a Guarantor for the Project. The Guarantor will be required to sign a form of Guarantee, as provided by the Program, of an amount up to the proposed Program funding amount.
Eligible Expenses
SREPs can support projects under the following streams:
- Established Renewables (examples: solar photovoltaic, onshore wind, small hydro)
- Emerging Technologies (examples: geothermal, energy storage)
- Grid Modernization (examples: micro-grids, virtual power plants, and hardware/software to enable grid services).
A portion of SREPs funding will be reserved for Indigenous-led projects, which may qualify for higher levels of project support.
