Thank you, Mr. Speaker. Today I would like to talk about the Taltson Hydro Electric Expansion Project. As an official mandate item on the priorities list of the 19th Legislative Assembly, we have a duty to see this project move forward in a timely manner and in close cooperation with Indigenous governments.
In terms of business opportunities and environmental regulation, Mr. Speaker, this hydro expansion would provide the NWT with more renewable energy, create job opportunities, lower electricity costs, and will set the pace for a vibrant economy into the future. This has to remain a priority in order to secure any significant long-term investments in the NWT. We need this infrastructure if we want to sustain and grow our territory's economic development.
Mr. Speaker, as a Fort Smith resident, my community resides in the closest proximity to the existing Taltson hydro system, and I can tell you based on concrete evidence that the majority of Fort Smith residents support this project, and I know that the majority of Members in this House support this project as well.
Moreover, Mr. Speaker, based on the considerable amount of research that has been conducted on the Taltson expansion, all plans state that this project has the potential to eliminate approximately 240,000 tons of annual greenhouse gas emissions by replacing diesel power generation. This would occur by creating that interconnected NWT power grid as opposed to the current separate North and South Slave grids.
Overall, Mr. Speaker, this project has the capacity to nearly double the NWT's current hydro capacity output. This would serve our territory's power needs for years to come, and any surplus energy that the NWT would not utilize could be sold to other nearby provinces and territories as needed.
Mr. Speaker, as a jurisdiction that is currently undergoing notable economic decline, I believe that our territory needs a considerable boost and could really benefit from long-term infrastructure investments such as that of the Taltson hydro expansion. Thank you, Mr. Speaker, and I will have questions for the Minister.