EDMONTON—Eight renewable energy projects have received more than $46 million in funding in an announcement made yesterday by the Climate Change and Emissions Management Corp. (CCEMC)
The eight projects have a combined total value of nearly $390 million.
CCEMC also called for applications for a second round of funding worth $40 million.
“Renewable energy is now the largest part of the CCEMC portfolio,” said CCEMC Chair Eric Newell. “With growing global energy demand, it is critical that we continue to reduce greenhouse gas emissions. Renewable energy will play an important role in helping Alberta to reach emissions reduction goals and transition to a lower carbon future.”
The eight projects are estimated to combine to reduce greenhouse gas emissions by more than five megatonnes over 10 years.
“CCEMC’s investment into renewable energy is a great example of environmental stakeholders being a part of the solution,” said Diana McQueen, Minister of Environment and Sustainable Resource Development.
Renewable energy includes energy derived from feedstock that is renewable and from natural or waste materials. Examples of renewable energy opportunities include conversion of biomass and waste to energy, bio-fuels, geothermal, mini-hydro, solar and wind.
The projects receiving funding are:
These renewable energy projects receive money from the seventh round of funding by CCEMC. While most of the 99 submissions were from North America, the CCEMC also received submissions from Europe, Asia, India, Africa and the Middle East. Out of the 99 proposals received, 16 were shortlisted, representing diverse and innovative renewable technologies.
CCEMC also announced it was accepting applications to access a total of $40 million from projects that reduce greenhouse gas emissions or enhance carbon sequestration from biological sources. Eligible projects will:
The CCEMC is a not-for-profit corporation that operates independently of government. It funds projects that reduce greenhouse gas emissions and help Alberta adapt to climate change.
Funding for the CCEMC is collected from industry. Since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas emissions over a baseline are required to reduce their greenhouse gas intensity by 12 per cent. Paying $15 into the Climate Change and Emissions Management Fund for every tonne over the reduction limit is one compliance option.
The CCEMC has committed funding to 51 projects valued at nearly $1.3 billion. In total, the projects are estimated to reduce greenhouse gas emissions by more than 10 megatonnes over 10 years.