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Canada’s renewable energy programme will not be renewed

The Canadian government has refused to commit new funding to a CAD$1.4 billion programme to fund renewable energy projects, according to Bloomberg.

By Isabella Kaminski

Canada’s Natural Resources Minister Joe Oliver has said that spending restraint is one reason his department has not renewed the CAD$1.4 billion (£897m) ecoEnergy for Renewable Power programme, Bloomberg reports. The programme funded wind farms developed by Suncor and TransAlta as well as solar energy projects developed by Enbridge.

Finance Minister Jim Flaherty said his government will run a CAD$32.3b budget deficit in the current fiscal year. Oliver, who is part of the spending review committee, told Bloomberg that the government is trying to balance fiscal prudence and promote 'clean energy' technologies.

Groups such as the Canadian Wind Energy Association have called on the government to renew the programme.

The Canadian government said it will invest CAD$53m in 17 clean energy projects across the country, including CAD$2m for Solantro Semiconductor, a company developing technology to improve the performance of solar cells, Bloomberg reports. Oliver said the government is focusing on projects with commercial applications.

The Canadian government also it would invest another CAD$400m to provide grants to homeowners to make energy-saving renovations.

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Policy, investment and markets  •  Solar electricity  •  Wind power