New Brunswick gets $219 million loan from Ottawa for hydroelectric dam repair work

The federal government has allocated nearly $219 million to repair the largest hydroelectric dam in New Brunswick, which is crucial to the country's plan to double Canada's electrical grid capacity by 2050. The loan from the Canada Infrastructure Bank will fund technical studies, regulatory reviews, First Nations engagement, and planning for the Mactaquac Life Achievement Project.

In addition, New Brunswick will receive a $50-million grant to upgrade its Salisbury Terminal near Moncton, which plays a key role in managing electricity flow across the province's grid. This investment is part of a $270 million federal spending plan aimed at strengthening New Brunswick's electricity system, creating jobs, attracting investment, supporting affordability, and lowering emissions.

The Mactaquac Generation Station, a 672-megawatt facility, is set for a multibillion-dollar overhaul to extend its operational life until 2068. The dam, which provides 30% of the province's renewable energy needs and 20% of its overall electricity demand, is considered the "battery of the Maritimes" due to its ability to generate electricity during system-wide blackouts.