Posted by admin | Posted in Green Energy | Posted on 14-07-2010
Tags: clean energy project finance, design, energy, environment, green, technology
Harvest Power To Receive Investment From Canada’S Clean Energy Fund
The Canadian Government’s Clean Energy Fund has announced that Harvest Power Canada, Ltd. has been selected to receive an investment in support of Harvest Power’s proposed anaerobic digestion and renewable energy project at its Fraser Richmond subsidiary outside of Vancouver, British Columbia.
Harvest’s Fraser Richmond plant is one of 19 projects across Canada to be identified by the Clean Energy Fund, part of Canada’s Economic Action Plan. In selecting Harvest’s proposal, the Clean Energy Fund recognized that Harvest’s technology “has the potential to be rapidly deployed across Canada as a mechanism to divert food wastes from landfills and produce renewable energy.”
“Investments in clean energy technologies are a key part of our approach to reducing greenhouse gas emissions and improving the environment,” said the Honourable Lisa Raitt, Canada’s Minister of Natural Resources. She said that she hopes projects like Harvest ’s facility will help bring Canada to the forefront of clean energy technology, while also providing green jobs for Canadians.
The Clean Energy Fund will offer up to $146 million to support 19 projects across Canada that help create renewable and clean energy power sources across the country, including integrated community energy solutions, smart grid technology, and renewable applications with solar, wind, tidal and geothermal energy. Harvest is expected to received between $2.5 – $5 million (CDN) following negotiations and signing of a formal contribution agreement with Natural Resources Canada.
“We’re tremendously excited by the possibilities that Canada’s Clean Energy Fund presents to our Fraser Richmond plan,”says Harvest Power CEO Paul Sellew. “Installing the anaerobic digestion plant at our facility will allow us to harvest the energy from the organic materials we recycle, providing clean, renewable, independent energy for British Columbia. This project will enable us to further Fraser Richmond’s leadership position in helping the Metro Vancouver Region meet its ambitious Zero Waste Challenge goal of diverting 70 percent of the region’s solid waste from landfills by 2015.
The Fraser Richmond Soil and Fibre facility is North America’s largest permitted food waste and yard waste compost facility. One of the most productive compost facilities in North America, Fraser Richmond will be the first project to utilize high solids anaerobic digestion on a commercial scale on the continent. Harvest plans to begin construction this summer on the first phase of the facility, which will process 30,000 tons of organic waste every year and produce nearly 6800 MWh/yr of electricity, enough electricity to power over 500 homes.
Harvest will provide more details about our Fraser Richmond facility in the coming months.
The Clean Energy Fund is investing nearly $1 billion in technology development and demonstration throughout Canada. Total investments under the Clean Energy Fund for large and small demonstration projects are benefiting Canada’s economy by leveraging nearly $3.5 billion in further investments by industry and other levels of government.
What’s the Clean Energy Fund? An instrument of Canada’s Economic Action Plan, the Clean Energy Fund is intended to generate new green economic activity in the short term, while strengthening the foundation for sustainable prosperity in the future. Almost $2.4 billion dollars in new measures are dedicated to creating and supporting a clean and sustainable environment, and helping to meet Canada’s climate change objectives.
About the Author
Commercial Leasing with Clean Power Finance
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