Major funding for diversified, low-carbon economy

Alberta’s energy industry is one of the most responsible in the world. We are proud to work with our energy sector to take on the challenges of the 21st century. Together with these investments, we will create the next generation of made-in-Alberta technology to help our energy industry attract investment, create more good jobs and reduce emissions.”

Deron Bilous, Minister of Economic Development and Trade

“Albertans have a proud history of energy innovation. These investments will ensure we continue to be the energy and innovation leader the world needs as it transitions to a low-carbon economy. When investors are looking for new and better ways to produce energy, we want them to look to Alberta.”

Margaret McCuaig-Boyd, Minister of Energy

“Our made-in-Alberta Climate Leadership Plan is giving Albertans and Albertan businesses the resources they need to be resilient and successful. By reinvesting revenue from the carbon levy, we’re helping business leapfrog to low-carbon, more efficient technologies so that Alberta remains an energy leader and provides Albertans with good jobs and opportunities.”

Shannon Phillips, Minister of Environment and Parks

The innovation funding has five categories:

    • $۴۴۰ million for oil sands innovation to help companies increase production and reduce emissions while adjusting to improved rules for large emitters that will be released later this week by Minister Phillips.
    • $۲۲۵ million for innovation projects across sectors that support research, commercialization and investment in new technologies that reduce emissions.
    • $۲۴۰ million for industrial energy-efficiency projects that help companies reduce emissions and costs by upgrading equipment or facilities to lower energy use. Support will be available for large industrial, agricultural and manufacturing operations.
    • $۶۳ million in grants for bioenergy projects, including biodiesel and ethanol – as well biomass-based electricity generation.
    • $۴۰۰ million in loan guarantees to support investment in efficiency and renewable energy measures to reduce risk for financial institutions and make it easier for companies to invest.
    • ✅Reference

Major funding for diversified, low-carbon economy

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