Green Energy Update - May 23, 2009

In the News

• “Who says negative attack ads work in modern politics? For Gordon Campbell and the B.C. Liberals, taking the high road proved to be the right road to a historic third term in power.”

Liberals score victory in 2009 BC Provincial Election. Gordon Campbell, leader of the BC Liberals secure third term in office, becoming only the fourth B.C. premier to win three majority seats in a row. Independent Power Producers are pleased with the Liberal’s win, as the NDP had promised a moratorium on projects if elected. Link to article

• “This is probably the first time in our community that we’ve been very proactive - not sitting back and waiting for the economy to turn us in a certain direction. We see this as the new industry, a new opportunity for us, and we are pretty optimistic.”

David Lantin, Chief Operating Officer of Tribal Resources Investment Corporation (Tricorp), commenting on the new $7-million “First Nation Regeneration Fund” announced Tuesday that will give aboriginal groups access to capital to participate as co-owners in run-of-river power projects. Two aboriginal capital corporations, Ecotrust Canada and the federal government have all kicked in the money which Lantin says will enable “four or five” first nations to borrow money to take an equity share in power projects in their communities. Link to article

• “By investing in the Clean Energy Fund, our Government is encouraging new technologies now to help protect and preserve our environment for future generations…Not only will this funding protect our long-term energy security, but this additional stimulus creates high-quality jobs for Canadians at a time when they’re most needed.”

The Honourable Lisa Raitt, Minister of Natural Resources commenting on the Federal Governments launch of the $1-Billion Clean Energy Fund. The Fund invests $850 million in technology development and demonstration. This includes $650 million for large-scale carbon capture and storage (CCS) demonstration projects and $200 million for smaller-scale demonstration projects of renewable and alternative energy technologies. Link to media release

• Hydro Green Energy Wins Industry Award. At a May 12 ceremony in Washington, D.C., Hydro Green Energy, LLC, a renewable energy company operating in the waterpower sector, was presented with the President’s Award by the National Hydropower Association (NHA). This prestigious award is given to an NHA member company that has “blazed new pathways to strengthen and invigorate the hydropower industry.” Link to article

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