Canada backs 1st geothermal project with USD 19.3m

Geothermal power station. Featured Image: N.Minton/Shutterstock.com

January 14 (Renewables Now) - The Canadian government will provide CAD 25.6 million (USD 19.3m/EUR 16.8m) in funds for what will be the country’s first geothermal power facility, planned for the western province of Saskatchewan.

The project was proposed by Canada-based DEEP Earth Energy Production Corp, whose proposal is to install a 5-MW geothermal plant near Estevan, southeastern Saskatchewan. Prime Minister Justin Trudeau’s office announced on Friday that financing for the project will be extended through Natural Resources Canada's Emerging Renewable Power Programme, which helped fund the pre-feasibility study for the scheme.

The geothermal facility, to be installed at a cost of CAD 51.3 million, is expected to generate electricity for about 5,000 homes, with excess heat planned to go for a local greenhouse. Its construction phase is seen to create 100 jobs.

The Canadian government noted it will proceed with investments in the research and development of new clean energy technologies, in support of the country’s climate goals. According to the statement, some 66% of Canada’s power comes from renewables.

(CAD 1.0 = USD 0.754/EUR 0.657)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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