Canadian Borealis Geopower receives government funding for demonstration project
Canadian Borealis Geopower, in conjuction with the Native Community of the Acho Dene Koe receives government funding for Demonstation Project in the Northwest Territories in the North of Canada.
According to a company release, Canadian “Borealis Geopower, in conjuction with the Native Community of the Acho Dene Koe, are pleased that our ADK/Borealis Geopower Demonstation Project has been selected and the funding amount is in the range of C$10-20 million.
Nineteen successful projects have been selected in response to a call for proposals under the Renewable and Clean Energy portion of the Clean Energy Fund. Up to $146 million will be invested over five years in these projects to support renewable, clean energy and smart grid demonstrations with evidence of collaboration among partners and the potential to reduce barriers to technology implementation.
The ADK/Borealis Geothermal Demonstration Project is an innovative renewable heat and power project for a remote community in Ft. Liard, NWT.
It will consist of a geothermal plant which will deliver a minimum of +/- 1 MWe of electrical power (sufficient for ~750 homes or the entire community) and also +/- 1 MWth of direct heat, sufficient to power a local greenhouse complex for local food production. This renewable heat and power green energy project will be completely ‘green’ and sustainable, with minimal emissions of any air pollutants or GHG’s, and expected to be indefinitely renewable. This project will demonstrate how a northern community can use a geothermal, “earth heat” resource to generate electricity and heat thereby reducing the entire community’s fossil fuel demand and reduce energy costs.
The Government of Canada will now invite the project proponents to begin negotiations toward formal contribution agreements to set the conditions under which funding will be delivered. The funding amount is in the range of $10-20 million for our project. Of note, until a written contribution agreement is signed by both parties, no commitment or obligation exists on the part of the government of Canada to make a financial contribution to these projects.”
Source: Company release via website