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The Minister, speaking at the International Council on Large Electric Systems (CIGRE) Seminar on 'Low Carbon Power Systems', also welcomed the opportunities laid out in the Budget for more 'green' jobs.
CIGRE is the international association of engineers and managers associated with major electricity systems.
Ms Foster said: "Increasing the level of renewable power generation is key for Northern Ireland's energy future, and this will involve significant strengthening of the electricity grid.
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"It is not sustainable to continue our near 100% dependence on imported fossil fuels for power generation."
The Minister highlighted the ongoing work by her department in relation to reviewing the Strategic Energy Framework for Northern Ireland.
She said: "This is an important time as we consider our energy mix and key energy priorities for the future. In order to help make Northern Ireland a more prosperous region, we must have reliable and competitive energy supplies. The challenge will be to ensure that these are delivered in the most cost effective manner."
The Minister welcomed the emphasis in this week’s Budget on a number of sustainable and wider energy proposals for the UK.
"The Chancellor's budget is focussed on promoting low carbon energy. Northern Ireland should benefit from the £525m enhancement for offshore wind development and the additional £45m for small-scale renewable electricity and heat projects primarily through the Low-Carbon Buildings Programme."
She said her officials would continue to liaise closely with colleagues in the Department of Energy and Climate Change (DECC) in London to ensure that Northern Ireland can achieve maximum benefit from he budget proposals, and in particular how Northern Ireland may benefit from green jobs.
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