Canadian geothermal project selling greenhouse gas credits to oil pipeline firm
View over Valemount, BC, Canada (source: Borealis GeoPower)
Alexander Richter
15 Dec 2020
The planned geothermal district heating project for Valemount in BC, Canada has reached an agreement on the sale of greenhouse gas credits to an oil pipeline company.
The village of Valemount in East-central British Columbia in Canada is planning a geothermal district heating scheme in tandem with developer Borealis GeoPower. In November the village applied for two grants for the projet.
As part of the applications, details on the project were revealed including the ownership and operation of the system to be managed by the village, while Borealis GeoPower would be getting a 49% share in the operating income. The developer Borealis would have to cover 26.7% of the costs not funded under the CleanBC Communities Fund.
It is now reported that Trans Mountain Pipeline, a pipeline carrying crude and refined oil from Alberta to the coast of British Columbia, Canada, has agreed to purchase greenhouse gas credits generated by the project. These credits will be considered operating revenue of the project.
The planned geothermal district heating is to be fed by two wells and relevant piping system to heat first municipal facilities and then residential buildings.
Source: The Rocky Mountain Goat
