Climate Change And Emissions Management (CCEMC) Corporation Makes $40M Available For Innovative Renewable Energy Projects
Edmonton, AB -- (Marketwire) The Climate Change and Emissions Management (CCEMC) Corporation is making $40 million in funding available for innovative renewable energy projects. Targeted areas of interest include wind generation, geothermal, runofriver and micro generation hydro, solar and biomass projects.
"The CCEMC is spurring innovation and supporting efforts to grow a diverse energy sector by looking for the very best renewable energy ideas for Alberta," said CCEMC Chair Eric Newell. "While the technology we fund must be relevant for Alberta, great ideas can come from anywhere."
Successful proponents will demonstrate the innovative nature of their project. Innovation can occur in a variety of ways including through technology, technology application, geography, finance, partnerships, bridging the gap to broad deployment and other opportunities. The CCEMC will not subsidize projects that are business as usual.
Projects can occur anywhere along the innovation chain, from early ideas to commercial deployment, and must conclude no more than three years from the time the contribution agreement with CCEMC is executed.
Eligible projects must demonstrate an annual GHG emissions profile and will be evaluated based on their ability to deliver significant and sustainable emissions reductions in Alberta. Projects selected to move to the full proposal stage will be required to supply detailed GHG reduction information for review by CCEMC and CCEMC requires that emissions reductions are verified after the project is complete.
CCEMC will contribute up to onehalf the project's total cash cost, to a maximum of $10 million per project. No other government sources or offset credits may constitute part of the proponent's 50 per cent contribution.
Renewable energy is a significant part of the CCEMC portfolio with more that $50 million in investments to date.
Submissions guidelines are available at http://ccemc.ca/projects. Information sessions about the submission and evaluation process will be held in Edmonton June 18 and through an online webinar June 25. Project proponents must register for information sessions in advance at www.ccemc.ca/events.
EOI Submissions are due September 27 and full project submissions will be invited in early 2013.
The CCEMC focuses on stimulating transformative change. Enabled through regulation, the CCEMC is an independent not-for-profit organization that provides ongoing, dedicated funds to support the discovery, development and deployment of innovative clean technology.
Funding for CCEMC is collected from industry. Since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas emissions are legally required to reduce their greenhouse gas intensity by 12 per cent. One option for compliance is payment into the Climate Change and Emissions Management Fund - $15 dollars for every tonne over the reduction limit.
SOURCE: Climate Change and Emissions Management Corporation