Canada Slates $880M for Clean Energy Fund

May 22, 2009

Email this story Print this post Add your comments

The Canadian government has announced details of the C$1-billion (approximately $882 million) Clean Energy Fund, which will go to the development and advancement of clean energy technologies including carbon capture and storage (CSS) projects.

Lisa Raitt, Minister of Natural Resources, during an address to the University of Alberta, said the fund invests C$850 million (approximately $750 million) in technology development and demonstration. This includes C$650 million (approximately $575.0 million) for large-scale CCS demonstration projects and C$200 million (approximately $177 million) for smaller-scale demonstration projects for renewable and alternative energy technologies.

Raitt also said C$150 million (approximately $132.0 million) will go toward research initiatives ranging from basic research to pre-demonstration pilot projects of technologies ranging from next-generation renewable and cleaner energy systems to new technologies to address environmental challenges in the oil sands such as water use and tailings.

The government has issued an initial request for proposals for small-scale demonstrations.

The Clean Energy Fund will also support Canada’s work with the United States in building a cleaner energy economy for North America through the Canada-U.S. Clean Energy Dialogue.

Governor Schweitzer of the state of Montana recently met with Canada’s Saskatchewan Premier Brad Wall to sign a memorandum of understanding to work together on a carbon capture project. The proposed $270-million project entails piping carbon dioxide emitted from a coal-fired power plant in southern Saskatchewan to Montana where it will be stored underground.

The Clean Energy Fund is part of the Government of Canada’s Economic Action Plan (2009), which includes new measures totaling almost C$2.4 billion (approximately $2.1 billion) to support a cleaner and more sustainable environment and meet Canada’s climate change objectives.

The latest investment should help offset criticism targeted at Canada’s environmental record. Environment Canada recently announced that Canada has one of the fastest growth rates of greenhouse gases in the world, and a record that is far worse than in the United States. The organization said carbon dioxide emissions in Canada rose to 747 million tons in 2007, up by 4 percent from 718 million tons the year before, and up 26 percent above their 1990 level, violating the Kyoto Protocol to cut emissions by 6 percent.

A group of Canadian green energy and technology companies recently met at a half-day event in Vancouver, British Columbia, to pitch for investment funding from the government stimulus package, reports Reuters.

Vicky Sharpe, chief executive of Sustainable Development Technology Canada, which manages C$1.05 billion ($920 million) in Canadian federal government funding, said in the article that governments around the world are investing billions of dollars into renewable energy and energy-efficient products and services because they create jobs.

Several executives from publicly- traded companies said they expected business to grow from tougher environmental legislation and stimulus spending, including solar energy company Arise Technologies Corp., which hopes Ontario’s recently passed Green Energy Act encourages the installation of 100,000 residential solar panels on rooftops, reports Reuters.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader