Canada Launches Clean Energy Fund

Posted by NAW Staff on May 22, 2009 No Comments
Categories : FYI

Canada has launched the Clean Energy Fund, which will invest C$850 million in technology development and demonstration. This includes $650 million for large-scale carbon capture and storage demonstration projects and $200 million for smaller-scale demonstration projects of renewable and alternative energy technologies.

‘By investing in the Clean Energy Fund, our government is encouraging new technologies now to help protect and preserve our environment for future generations,’ says Lisa Raitt, minister of Natural Resources Canada. ‘Not only will this funding protect our long-term energy security, but this additional stimulus creates high-quality jobs for Canadians at a time when they're most needed.’

Raitt also announced that there will be a C$150 million research component. This will fund 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.

An initial request for proposals for the small-scale demonstration component of the program has been issued by the government.

In addition to advancing key clean energy technologies in Canada, investments through the Clean Energy Fund will also support Canada's work with the U.S. in building a cleaner energy economy for North America through the Canada-U.S. Clean Energy Dialogue.

SOURCE: Natural Resources Canada

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