Climate Change and Emissions Management (CCEMC) Corporation

Climate Change and Emissions Management (CCEMC) Corporation

June 21, 2011 09:30 ET

Climate Change and Emissions Management (CCEMC) Corporation Announces $15 Million in Funding for Renewable Energy Projects in Northern Alberta

Three projects valued at more than $129.9 million

EDMONTON, ALBERTA--(Marketwire - June 21, 2011) - Slave Lake is one of three communities in northern Alberta that will benefit from renewable energy projects supported by the Climate Change and Emissions Management (CCEMC) Corporation. Projects in High Level and Hairy Hill, near Vegreville, are also receiving funding.

"The CCEMC is advancing clean technology by supporting projects that are innovative and reduce GHG emissions," said CCEMC Chair Eric Newell. "By supporting projects like the world's largest commercial fast pyrolysis plant and the world's first large scale carbon neutral biofuel plant, CCEMC demonstrating the promise of clean technology."

Combined the three projects are estimated to reduce GHG emissions by more than 2.3 megatonnes over 10 years, the equivalent of removing 46,000 cars off the road. For every dollar CCEMC invests in these three projects, about another $7.50 is also invested.

"Alberta's commitment to reduce greenhouse gas emissions is stronger than ever," said Environment Minister Rob Renner. "Incorporating a technology fund in Alberta's regulatory approach has proven vital to advancing our clean energy story. The latest investment by the Climate Change and Emissions Management Corporation in these renewable energy projects demonstrates another meaningful step forward to reducing emissions in Alberta."

The High North RTP Project in High Level will be the world's largest fast pyrolysis plant, converting wood waste from Tolko's sawmill at High Level to Pyrolysis oil, which generates power for a series of modified diesel engines. Waste heat will be recovered and used for drying lumber.

Growing Power Hairy Hill will be the world's first large scale carbon neutral biofuel plant. The integrated biorefinery also includes other operations such as fertilizer manufacturing and biofuel feedstock production with systems powered by waste.

The Slave Lake Pulp Bio-Methanation Project will integrate an energy efficient anaerobic digestion system into an existing effluent treatment system. The new system will treat effluent and produce biogas that will generate electricity and heat for use in the pulping process.

The CCEMC issued its third call for proposals in September 2010, with $50 million for renewable energy projects. Sixty-three projects were evaluated, 17 applicants were qualified to submit full project proposals and 14 proposals were received.

The CCEMC strives to build a balanced portfolio over time. With this announcement the CCEMC is supporting 25 projects at all stages of innovation with a total planned investment of $113.2 million and a total combined project value of more than $594 million. For all projects combined, for every dollar CCEMC invests approximately another $4.25 is also invested. The CCEMC will make an additional announcement regarding support for two more renewable energy projects before the end of the month.

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 compliance option is to pay into the Climate Change and Emissions Management Fund at $15/tonne.

The CCEMC is a not-for-profit organization whose mandate is to establish or participate in funding for initiatives that reduce greenhouse gas emissions and support adaptation. The CCEMC invests in discovery, development, and operational deployment of clean technologies.

For additional detail on the projects and contact information for funding recipients, see our backgrounder on ccemc.ca or visit the following link: http://media3.marketwire.com/docs/621ccemc_backgrounder.pdf

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