Alberta announces $28m for geothermal and mineral strategy
The Alberta Government announced C$28 million for Geothermal Resource Development and the Mineral Strategy in their 2021-24 Budget Release!
As part of its 2021 Budget, the government of the Province of Alberta, Canada, shared details about the government’s strategy for the energy sector with support for the (oil) site rehabilitation program, natural gas vision etc. At the same, the new strategies are to support competitiveness in the province’s energy industry, maximize value from hydrocarbons and capitalize on emerging opportunities. … and more importantly this “includes CAD28 million for Geothermal Resource Development and the Mineral Strategy, including mapping of targeted public geoscience information in Alberta.”
This follows legislation introduced in October 2020 to support geothermal development in the province.
The government sees geothermal energy as an opportunity for economic recovery of the province, which has been struggling with the challenges faced by its oil and gas sector. The province has “the geological potential to supply the global demand for strategic, critical, and non-critical minerals, as well as large potential for geothermal energy to be part of the green energy mix. Both sectors are nascent industries with the opportunity to directly contribute to the government’s focus on getting Albertans back to work, re-launching Alberta’s economy, and securing long-term prosperity. A clear, predictable and robust regulatory regime is key to boosting investor confidence.”