Power Measurement Ltd. will receive up to $3 million through the Government of Canada’s Clean Energy Fund for a project. Stockwell Day – president of treasury board and minister for the Asia-Pacific Gateway – made the announcement saying the funds are to “demonstrate a smart grid electricity system.”
At the British Columbia Institute of Technology, an energy management
business intelligence platform will determine the ability of a smart
grid to “optimize energy resources.” The project is anticipated to
reduce consumption by 10-25%, according to the release, and will also
determine the ability for commercial customers to save.
Schneider Electric – the parent company of Power Measurement Ltd. –
announced a total investment of $9.21 million for the project. Power
Measurement Ltd. is providing $4.38 million, joined by partners
Brookfield Properties, BC Hydro, ENMAX and BCIT.
“Support to projects like this one in BC also encourages energy
innovation and sustainable prosperity in the future,” says Minister
Day. Geoff Hyatt, director of operations at Schneider Electric states:
“Our mission is to help people make the most of their energy while
using less, and we are enthusiastic about being leaders in this
critical area.”
As part of Canada’s Economic Action Plan, the Clean Energy Fund is
investing $795 million in clean energy technology development and
demonstration over five years; $146 million to support close to 20
project launches; and $466 million for carbon capture and storage
projects.
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