Canadian Government Clean Energy Fund
In 2009, the Canadian Government announced details of a new Clean Energy Fund to finance the development of clean energy technologies within Canada. This is part of Canada's Economic Action Plan to overcome the economic recession and meet Canada's climate change objectives, and will also support the Canada-U.S. Clean Energy Dialogue which aims to build a cleaner energy economy for North America.
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Technology research, development, and demonstration projects in carbon capture and storage and smaller scale renewable and alternative energy technologies. Recent project proposals include a carbon capture project costing $270 million and entailing piping carbon dioxide emissions from a coal fired power station in Southern Saskatchewan to underground storage facilities in Montana.
The budget of C$1 billion breaks down as follows:
C$850 million for investment in technology development and demonstration (C$650 million of which is targeted towards large-scale carbon capture and storage projects and C$200 million of which is for smaller-scale demonstration projects for renewable and alternative energy technologies).
C$150 million for research initiatives in renewable energy and new energy technologies to address environmental challenges.