BC Hydro announces more than $3 billion in capital projects on Vancouver Island over the next decade

BC Hydro announces more than $3 billion in capital projects on Vancouver Island over the next decade
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Various politicians and BC Hydro announcing a $3.2 Billion investment.

BC Hydro announced, in partnership with the province, that they will be investing over $3.2 billion over the next decade to fund capital projects on Vancouver Island.

The money invested by BC Hydro is intended to upgrade and expand the electricity grid and provide clean power for homes and businesses in growing communities across the Island.

“We must build out B.C.’s electrical system like never before, to power our homes and businesses, to power a growing economy and to power our future,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation at BC Hydro’s Horsey substation in Victoria on Friday.

The construction projects and upgrades are hoping to support 10,500 to 12,500 jobs annually, on average, according to a Ministry of Energy, Mines and Low Carbon Innovation press release.

Some of the new upgrades and construction from BC Hydro includes a new substation in the Langford area that will power an additional 40,000 to 70,000 homes and be in service by 2030 –  replacing end-of-life transmission underground cables that service Victoria, Esquimalt and Saanich – and seismic upgrade projects to BC Hydro’s three dams within the Campbell River system.

Ravi Parmar, MLA for Langford-Juan De Fuca was at the announcement with high hopes that this investment will help with healthy growth in Langford.

“With just over 1,000 units currently under construction, these upgrades and expansions are a welcome addition to our existing electrical capacity,” he said. “These projects support not only our residents but also our businesses, our economic development and our climate goals.”

This announcement of funding also parallels BC Hydro’s call for power to acquire approximately 3,000 gigawatt hours per year (GWh/y) of clean electricity. This is the energy company’s first competitive call for power in more than 15 years that will add five per cent to its current supply.

BC Hydro’s 10-year capital plan can be viewed here.

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