“Today’s announcement is an investment in the future of Saskatchewan, and all our children. DEEP’s project has the potential to transform how the province and the country produces energy, while creating good, middle class jobs for Canadians. This is another example of how we’re taking action to fight climate change today while strengthening our communities for tomorrow,” said Trudeau.
Geothermal energy harnesses heat from the earth’s crust and transforms it into electricity to provide power year round. DEEP’s geothermal facility will use familiar drilling technologies from the oil, gas, and mining industries to tap into this reliable energy source.
The Government of Canada will provide $25.6 million in funding for the five-MWe facility, which will produce enough energy to power approximately 5,000 homes all while taking the equivalent of the yearly emissions of 7,400 cars out of the atmosphere.
The project is anticipated to create 100 jobs during construction, provide the provincial power grid with clean, renewable energy, and create new business opportunities for local communities.
Funding for this project is also being provided through Natural Resources Canada’s Emerging Renewable Power Program. In 2014, Natural Resources Canada contributed $1 million through its ecoENERGY Innovation Initiative for a pre-feasibility study for this project. Natural Resource Canada’s Clean Energy Innovation Program and Innovation Saskatchewan also contributed $350,000 and $175,000, respectively, towards test drilling. The total cost of the project is $51.3 million.
The project will pave the way for additional investment in the Williston Basin, which has the capacity to support several hundred MWe of power generating capacity.