Siemens Canada, New Brunswick Power (NB Power) and Nova Scotia Power (NSP) agreed on conducting a joint project to develop and demonstrate smart grid technology to better manage the provinces´ electricity and reduce greenhouse gas emissions.
The overall investment for the project amounts to $69.6 USD M ($92.7 CAD M). For a joint pilot project aimed at analyzing challenges and opportunities posed by Canada's energy transition, the three partners have been awarded $35.66 M CAD in federal funding.
The partners will research and test in real-time how the grid of the future can optimize integration of renewables, ensure stability of the grid and manage decentralized distribution in order to better manage the provinces’ electricity, potentially reduce future electricity costs for consumers and reduce greenhouse gas emissions. The pilot, officially called the Smart Grid Atlantic project, is being funded in part by the Government of Canada's Strategic Innovation Fund.
"This partnership will be truly ground-breaking. Together with NB Power and Nova Scotia Power, we will develop and implement a powerful cloud-based Energy System Platform (ESP), allowing everyone to participate in the energy market," says Faisal Kazi, President and CEO of Siemens Canada. "The ESP will enable data analytics, ensure connectivity, and provide tools for developers to create customer-focused applications and services. The platform will also optimize the overall electrical grid and reduce the cost of transitioning into a greener future not only in Canada but throughout the globe."