Canada announces details of $1 billion clean energy fund
The government of Canada announced the details of the $1 billion clean energy fund it announced in February. A statement issued by the Minister of Natural Resources Lisa Raitt revealed that the fund will be allocated as follows:
Additional details are available on the Ministry of Natural Resources website. The government has already issued a request for proposals for smaller-scale demonstration projects.
That the majority of the money is allocated to CCS is not surprising given the quantity of emissions from coal-fired generation and oil sands projects, particularly in the province of Alberta. The US has recently hinted that it may ban or impose large tariffs on oil imports from carbon-intensive sources like the oil sands. CCS could effectively clean up the emissions profile of upgraded and refined bitumen and preserve the export market.