Canada Prime Minister Stephen Harper announced Jan. 19 more than C$1.5 billion (US$1.3 billion) in funding for an initiative to encourage generation from renewables, including hydro of 30 MW and less, and ocean projects.
Harper said the ecoEnergy Renewable Initiative will harness the power of the environment to help protect the environment. His announcement did not identify the source of the funding, nor whether the initiative would require approval before it can be implemented.
EcoEnergy for Renewable Power is the biggest component of the initiative. It calls for an investment of C$1.48 billion (US$1.25 billion) to boost Canada’s supply of electricity from renewables, including small hydro and ocean energy.
Harper said a ten-year incentive program would be established to fund eligible projects to be built over the next four years. The program would provide an incentive of 1 C cent (.84 US cent) per kWh for up to ten years for projects that generate electricity from renewables, including small hydro, and tidal and wave technologies.
The ecoEnergy Renewable Initiative is expected to create as much as 4,000 MW of renewable energy. It also is expected to deliver reductions in greenhouse gas emissions equivalent to taking a million cars off the road, and reduce other air pollutants.
�The ecoEnergy Renewable Initiative complements the regulatory approach of our proposed Clean Air Act,� Natural Resources Minister John Baird said. �It will deliver real results now to improve air quality in our communities and the health of Canadians by reducing greenhouse gases and air pollution.�