For immediate release
Renewed investment could support 5,000 jobs
June 18, 2021 – Peterborough – The Ontario Waterpower Association (OWA) is preparing for the annual “Waterpower Day” event this Sunday, June 20th, in recognition of the birth of Sir Adam Beck, fittingly the father of hydroelectricity in Ontario. Municipal “Community Champions” from across the province will join the OWA in celebrating Made in Ontario waterpower.
“I invite all Ontarians to share in the recognition of the province’s first and foundational source of electricity,” said Paul Norris, OWA President. “Waterpower built our original economic prosperity and can play a critical role in our recovery.”
There are 224 waterpower facilities across the province responsible for one quarter of Ontario’s electricity supply. Waterpower provides some of the lowest cost and most reliable electricity and is the single largest source of resource royalties to the Consolidated Revenue Fund. According to recent analysis, with improved long-term investment confidence, the industry could be expected to invest more than $2.5 Billion in existing Ontario waterpower assets over the next five (5) years, supporting almost five thousand jobs annually.
Earlier this year MPP Michael Mantha introduced a Private Members Bill to proclaim June 20th as Waterpower Day, noting that “Ontario and its residents have benefitted from more than a century of affordable, reliable and sustainable waterpower and that waterpower has created, and continues to create, social, political, environmental, economic and technological benefits for those residing in Ontario.” This added a provincial voice to the dozens of communities who have become local “Waterpower Champions.”
“I am particularly pleased that this year we are partnering with the Niagara Parks Commission who later this summer will launch a world class exhibit and destination featuring waterpower,” added Norris. “Once travel and tourism resume, it will be a must see for everyone.”
For more information on the Ontario Waterpower Association, visit: www.owa.ca.
Ontario Waterpower Association