⚡️ Flipping the switch

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Good morning! Prefabrication is helping crews build in some of the harshest and most remote places on earth. Nearly 50% of modules for a new research station under construction in Antarctica were built, assembled and even decorated before getting shipped to site.

⏰ Today’s read: 4 ½ minutes

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 8:30PM ET January 22nd, 2024.

Economy:  The Bank of Canada plans to change up how it does economic forecasts. Over the past year, a team of about 20 Bank of Canada economists, aided by other staff researchers, have been working on a major overhaul of the bank’s main macroeconomic models. officials say the aim is to modernize the models to better understand and respond to economic trends, including the impact of climate change and digitalization.

THE BIG STORY

Generating Canadian power

Alberta had a power crisis this month.

Record-breaking weather prompted the province to issue an emergency alert warning for residents to conserve power due to increased demand. Extreme cold resulting in high power demand placed the Alberta grid at a high risk of rotating power outages. Officials asked Albertans to limit their electricity use to essential needs only.

While these circumstances were extreme, power demand is only going to grow as electrification ramps up.

Flipping the switch: With Canada hoping to get its grid to net zero by 2035 and swap over to electric heating/cooling systems and EVs, we are going to need all the power we can get. According to the Canadian Climate Institute, this will require doubling or even tripling our generating capacity and cost more than $400 billion. 

Major power announcements: While the challenge is daunting, work is being done. Here are some major projects to help bolster our electrical grid:

• BC Hydro plans to increase its capital plan by 50% with a focus on electrification and emissions-reduction infrastructure. The 10-year, $36-billion plan includes building new high-voltage transmission lines, building or expanding substations and upgrading dams/generating facilities. 

• Alberta is working with experts in Ontario to develop its own nuclear power. They plan to explore building small modular nuclear reactors. 

• In other Nuclear news, Ontario is in the midst of massive nuclear refurbishments and is considering billions more to keep the nation’s oldest nuclear power plant running. 

Leading the charge: The problem is twofold. Not only do we need a lot more power, we need it to be clean. Some have said government timelines are unrealistic (and that could be a fair criticism) but like the Trans-Canada Highway or the Canadian Pacific Railway, this is one of the great projects of our time. It won’t be easy, but Alberta’s interest in small modular reactors shows promise and more innovation could be on the way.  

NEED TO KNOW

The week's headlines

🚃 Webuild is leading a joint venture that will carry out more than $1 billion in Ontario Line work. The work includes developing and building the Pape Tunnel and Underground Stations portion of the Line. Fomento de Construcciones y Contratas Canada Ltd. (FCC Canada) is part of the joint venture.

🚔 Edmonton officials say they have uncovered an international criminal network that targets builders with South Asian backgrounds in the province. Police say the network is behind dozens of cases of extortion, arson and weapons offenses.

⚡ SaskPower announced that a contractor backed by First Nations will build and operate a solar facility near Estevan. Once built, it will be the largest generator of its kind in the province, creating enough energy to power 25,000 homes.

🧑‍⚖️ Work on a $7-billion EV battery plant project in Quebec has been halted for days after an environmental group requested an injunction from the courts. The group believes the project could damage wetlands and accused government officials of applying a different standard to its approval. 

PROJECT SPOTLIGHT

SFU stadium earns high scores

With only 20 days of athletic events each year at Simon Fraser University, Perkins & Will’s goal for school’s new stadium was to create an outdoor gathering space with multiple uses. The design features an expansive cantilevered roof, which covers over half the seating, and integrates a press box at the terrace level with washrooms, service spaces, and the football locker room located below. The project was recently recognized with an International Architectural Prize from the International Olympic Committee (IOC), the International ­Paralympic Committee (IPC) and the International Association for Sports and Leisure Facilities (IAKS).

PROJECT UPDATES

• Arthur Erickson Place achieves Zero Carbon Building certification

• B.C. spends $1.3M to speed up housing work on North Shore

• Indigenous-led gigafactory in the works for B.C. 

• Crews install girders for Valley Line West LRT

WHAT WE’RE TALKING ABOUT

LIST: 👷‍♀️ 8 Construction job boards to streamline hiring

READ: 💵 Hamilton mom plans to pay off debt through carpentry

PHOTOS: 😇 You’re never too old for jobsite snow angels

READ: 📈 How Stantec and WSP became stock market stars

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Here’s to a great rest of the week!