SaskPower Delivers Record Infrastructure Investments in 2024-25

Released on June 23, 2025

SaskPower invested a record $1.5 billion during the 2024-25 fiscal year to modernize, grow and sustain the provincial electricity system, which represented a $284 million increase over the previous year. 

"Our government and SaskPower are committed to delivering the reliable and affordable power that Saskatchewan families, businesses and communities need to grow and thrive," Minister Responsible for SaskPower Jeremy Harrison said. "During the past year, SaskPower made record investments in electricity generating stations and transmission and distribution systems to ensure a stable supply of power for customers while keeping bills as low as possible."

SaskPower's 2024-25 capital investment program included $555 million in sustainment activities to repair and upgrade aging generation, transmission and distribution infrastructure, and $855 million on growth projects, such as new generation facilities and expanded grid capacity. About $87 million was spent on other strategic investments, such as the Regina Operations and Maintenance Complex. 

SaskPower reported a net income of $76 million for the 2024-25 fiscal year. The Crown Corporation's balance sheet remains strong with a 76.2 per cent debt ratio.

"Our company continued to prioritize local and Indigenous vendors as we worked to modernize and grow our power system during the past year," SaskPower President and CEO Rupen Pandya said. "As we build a system that provides reliable and affordable power for all, our path forward will continue to focus on meaningful engagement with customers, Indigenous Rightsholders as well as business and industry stakeholders across Saskatchewan." 

Notable accomplishments for 2024-25 include:

• Commissioned the 370-MW natural gas-fired Great Plains Power Station in December 2024.
• Began construction of the new 370-MW natural gas-fired Aspen Power Station near Lanigan. 
• Narrowed search for Saskatchewan's potential first Small Modular Reactor (SMR) site to two locations in the Estevan Region and established a new wholly owned subsidiary called SaskNuclear to advance SaskPower's SMR project through the regulatory and licensing process.
• Completed Saskatchewan's first custom-built community microgrid in April 2025, which is providing power to the small northern community of Descharme Lake.
• Expanded our company's wind power capacity by 200 MW with the addition of the Bekevar Wind Power Facility.
• Celebrated 10 years of operation at our carbon capture and storage facility at Boundary Dam Power Station Unit 3.

To view the full annual report, visit: saskpower.com.

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