In Budget 2024, the Government of Canada continued their drive to implement government incentives aimed at decarbonizing the economy through providing further clarification and design details for the Clean Electricity investment tax credit the Clean Electricity ITC, and through providing an additional tax credit for electric vehicle manufacturers in the form of the EV Supply Chain ITC the EV ITC.
The Canadian government released its long-anticipated draft Clean Electricity Regulations Regulations on August 10, 2023,1 setting out its approach to mandating a net-zero emissions power grid by 2035. In this note, we offer our insight on this federal regulatory initiative that will have implications on the electricity industry across Canada and is certain to be controversial in some regions of Canada, setting the stage for jurisdictional challenges and regulatory uncertainty, all of which must be addressed in order to establish a strong basis on which to invest.
A project executed from conception through commissioning with the ideals of shared risk and shared success offers a unique approach to project execution, which could be replicated to keep other power plants in