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Government invests $239 million in bioenergy
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October 03, 2006
A $239 million investment in Alberta’s bioenergy sector will make the province a leader in producing renewable energy from organic materials.
The funding will encourage manufacturers to bring more bioenergy products to the marketplace and create new markets and opportunities for Alberta’s agriculture industry.
The $239 million will be provided over the next five years and will fund a Renewable Energy Producer Credit program and a program to support technology investment in the province.
The four-year Renewable Energy Producer Credit program will provide $209 million to help introduce renewable products into traditional fuel and energy markets. It will also help Alberta compete with other jurisdictions that provide programs and tax exemptions to distributors who blend biofuels. This program will replace the existing Alberta ethanol road tax exemption policy.
The remaining $30 million will create a program to support technology investment that will help market and distribute bioenergy products within the existing market for fuel or electrical power. This funding comes from the Energy Innovation Fund, which was established in August 2006.
The $239 million investment is part of the province’s nine-point bioenergy plan that includes:
- Developing bioenergy products (ethanol, biodiesel, biogas) and markets.
- Building the infrastructure required to provide bioenergy to the marketplace.
- Creating standards for processing plants like biogas digesters and biodiesel processing facilities.
- Details of the nine-point plan
More information
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