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SaskPower Outlines $1.6B Capital Spend for 2024-25

SaskPower plans to invest $1.6 billion into the provincial electricity system during the 2024-25 fiscal year. The capital investment, which represents an increase of $433 million over 2023-24, will ensure customers have the reliable electricity they need as SaskPower continues to modernize and decarbonize the grid.

“This record investment is a sign of our government’s commitment to a growing economy and strong communities powered by reliable, sustainable electricity,” Minister Responsible for SaskPower Dustin Duncan said. “Major projects such as the Aspen Power Station will also directly fuel economic growth in our province though the participation of local companies.”

Planned capital expenditures for 2024-25 include:

  • $508 million to maintain and upgrade transmission, distribution and generation assets;
  • $710 million on new generation, including the Aspen Power Station Project and the Ermine and Yellowhead expansions;
  • $311 million in growth projects, including connecting new customers to the grid; and
  • $67 million in strategic investments that will allow SaskPower to continue with smart meter deployment and continue work on projects such as the Regina Operations and Maintenance Complex.

This year, SaskPower will also commission the Great Plains Power Station near Moose Jaw, begin operating the province’s first battery energy storage system near Regina, and add 200 megawatts of renewable energy capacity from the Bekevar Wind Energy Project near Kipling.

“The clean energy transition is the most significant change SaskPower has ever experienced, and investments are required to navigate it successfully,” said Rupen Pandya, SaskPower President and CEO. “As we look to the future, our investments will continue to be focused on strengthening our electricity system and moving to lower-carbon generation options.”

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