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Canada with lots of geothermal potential, but insufficient government support

Canada with lots of geothermal potential, but insufficient government support The Board of CanGEA at the Toronto Stock Exchange (Source: TMX)
Alexander Richter 16 Jan 2011

While Canada is the centre for financing of geothermal firms through the Toronto Stock Exchange, there is little-to-non development in the country, mostly because of little support through favorable government support and legislation.

Canadian TV station CTV, is looking ahead for Canada’s clean energy sector in 2011, quoting the very different paces for their development in Canada, compared to the rest of the world.

Looking at wind, solar and geothermal, the part on geothermal is quite straight forward and worth mentioning here.

“Canada is in the centre for financing for international (and Canadian) firms – with a few listed firms on the Toronto Stock Exchange”, so the article. At the same time it quotes that there are no active geothermal projects in Canada, which is not quite true. There are a number of small projects that try to prove to the country that geothermal power has a future in Canada.

But with the more preferable government support south of the border, Canadian and international firms raise money in Canada, but work outside of the country.

Source: CTV