European firms converge on Canada

European firms converge on Canada for Sir Adam Beck hydro project.
The Niagara Tunnel project will see the construction of the largest hard rock tunnel in the world, even wider than the Channel Tunnel, but will it add enough power generation capacity to meet rapidly escalating demand and stave off the looming energy shortfall that Canada is now confronting? PES investigates.

With its abundant water resources and a geography that provides a wealth of opportunities to produce low-cost energy, it comes as no surprise that Canada is one of the world's leading producers of renewable energy. But the country's RES strength really lies in the hydropower sector, which has installed capacity of about 71,000 and annual average yield of 350 TWh, accounting for around 13% of total global hydropower output and making Canada the global frontman of the hydropower industry. There are approximately 475 hydropower plants in Canada, half of which have individual generating capacity of over 10 MW, representing 99% of total capacity. And this flourishing industry still has ample room for expansion, with undeveloped viable hydropower resources amounting to more than 163,000 MW in technical potential.

Traditionally, the cost of generating hydroelectric energy in Canada has been at one of the lowest rates in the world, allowing for low retail electricity prices for residential users and electricity-intensive industries alike. As long as the development of new projects can be kept at a minimum, then investment in the Canadian hydro sector will remain a truly rewarding option. Steady inflows are vital to the development of the hydropower industry, for new projects to be developed and for general maintenance and upgrading of existing projects to continue. One such project, the Niagara Tunnel, comes in response to a looming energy crisis for the region of Ontario.
Download