Industry Minister Francois-Philippe Champagne of Canada, who has been involved in securing investments for large electric vehicle (EV) battery plants, warns that the country is approaching the limits of its renewable energy capacity. While Canada has made significant strides in green industrial strategy, Champagne emphasizes the need for increased electricity generation to sustain these efforts. He mentions the focus on supporting small- and medium-sized businesses to complement mega projects and the importance of developing more mining and refining capabilities. Champagne advocates for a strong emphasis on developing small nuclear reactors and expanding renewable energy sources, acknowledging that power has become a critical factor in project approvals.
The minister's concerns echo those of Quebec's Energy Minister, Pierre Fitzgibbon, who highlighted challenges in meeting rising power demand in the province. Canada, a leader in non-emitting electricity production, aims to further increase renewable energy by two to three times by 2050 and achieve 100% non-emitting electricity by 2035. As the country transitions to electric vehicles, electric heat pumps, and other sustainable technologies, there is a projected increase in electricity demand. Champagne emphasizes the importance of clean power as a key selling point in attracting investments, acknowledging its role in decisions such as Volkswagen's choice to establish an EV battery plant in Canada. Meeting future energy demands will require coordinated efforts from governments, utilities, and industries.
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