Alberta Department of Energy Carbon Capture and Storage Program
STATUS:
Deadline to submit Full Project Proposals is March 31, 2009
TIME FRAME Start:
Grantees to be announced June 30, 2009
TIME FRAME End:
DESCRIPTION:
The Canadian Province of Alberta has set aside C$2 billion to support (up to 75% of costs) the building of three to five approved new carbon capture and storage demonstration projects that will start to permanently store up to 5 million tons of carbon dioxide by 2015. The CO2 must remain stored for a period of at least 10 years. All projects must be located in Alberta and any portion outside of Alberta will be ineligible under this program.
Funds dispersed by the Alberta government prior to the commencement of operations of an approved project will be limited to a maximum of 40% of the total approved funding for the project and will be paid on specific project milestones, as specified in the grant agreement.
A maximum of 20% of the total approved funding for the project will be paid on commencement of the operations, and the remaining percentage will be disbursed as CO2 is captured and disposed, over a maximum of 10 years.
Revenue received by the project on the sale of CO2, emissions credits, etc. will reduce allowable costs upon which the grant is based.
