Fall 2018 - Bill 27: An Act to recognize the Canyon Creek Pumped Storage Project
The purpose of this Pumped Hydro Energy Storage (PHES) project is to store renewable energy on the electrical grid from the time it is generated until the time it is needed. This will enable more renewable energy to be integrated into the Alberta system while ensuring a reliable and stable supply of power when it is needed.
This project shows that companies are willing to invest in alternative sources of energy in Alberta and provides Turning Point the certainty it needs to proceed. It also clearly signals to others that there are opportunities for investment in Alberta.
Alberta has a clean, predictable regulatory process to invest in our electricity system and companies have an opportunity to help meet the growing needs of our province.
This Bill is one step in the approval process. There are still several regulatory steps before construction can proceed. The final decision to invest rests with the company.
Increasing energy from renewable and alternative sources like wind and pumped hydro storage will enhance our position as a responsible energy producer.