Clean Energy Investments Power B.C.'s Future
Feb. 15, 2010
VANCOUVER – Premier Gordon Campbell officially kicked off Clean Energy Day at Robson Square during the 2010 Winter Games by announcing three new major clean energy and technology investments in the province of British Columbia.
“British Columbia has enormous clean energy potential and together with industry, we are putting it to work for our economy, generating new jobs and new wealth for B.C. communities, while lowering greenhouse gas emissions within and beyond our borders,” said Premier Campbell. “Today, on Clean Energy Day, we are showcasing the incredible growth and innovation taking place in our province’s clean technology sector and in bioenergy, hydro, wind, geothermal, tidal, wave and solar energy generation.”
Clean Energy Day showcases B.C.’s vibrant green business sector as well as industry confidence and multi-million dollar investments in British Columbia’s clean energy future.
“We need to address both B.C.’s growing energy needs and climate change, which will require increased development of clean, renewable energy,” said Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources. “The Province is working hard to support clean energy solutions, and we are lucky that B.C. is home to companies whose innovation is attracting partnerships and investment from clean energy leaders around the world.”
Several of B.C.’s clean energy leaders and international partners joined Premier Campbell on Clean Energy Day for major announcements demonstrating their commitment to B.C.’s clean energy future:
B.C. biomass energy company Pacific BioEnergy Corporation is partnering with global energy leader GDF SUEZ on a $24-million expansion of the wood pellet plant in Prince George. GDF SUEZ has also agreed to purchase 2.5 million tonnes of carbon-neutral wood pellets over the next 10 years. The expansion project will result in improved air quality in Prince George and greater use of mountain pine beetle killed timber in the surrounding forests. Use of carbon-neutral B.C. wood pellets by GDF SUEZ will result in significant reductions in CO2 emissions at its electrical facilities in Europe.
Vancouver-based global venture capital firm Chrysalix Energy announced that their Chrysalix Energy Limited Partnership III (CELP III) fund now exceeds US$100 million and is on target to reach US$150 million by March 31, 2010. Additionally, Credit Suisse has decided to invest in Chrysalix through its affiliate, the Oregon Investment Fund.
The University of British Columbia (UBC) and Nexterra Systems Corp. are partnering to demonstrate the world’s first installation of a unique biomass-fuelled combined heat and power (CHP) solution developed by Nexterra and GE Power & Water’s gas engine division. The CHP system will provide clean, renewable heat and electricity for UBC's Vancouver campus and a platform for bioenergy research. Commercialization of the Nexterra/GE CHP system has the potential to realize up to $1 billion in export sales by 2020.
These investments will help the Province to continue to advance its commitment to clean, renewable energy.
Clean and renewable energy continues to be a cornerstone of the Province’s climate action plan, which will create jobs, support families and generate new economic activity throughout British Columbia, while lowering greenhouse gas emissions within and beyond our borders. Electricity self-sufficiency and clean and renewable power generation are integral to B.C.’s effort to reduce its carbon footprint and fight climate change.
Clean Energy Day is part of the Province’s 2010 Olympic and Paralympic business hosting strategy, which will feature dozens of events and outreach opportunities to promote British Columbia's core industries, diverse regions and communities, and investment and job- creation potential throughout the province.
