More carbon capture projects to be green-lit soon: Natural Resources Minister

By Amanda Stephenson
The Canadian Press in the Financial Post
July 4, 2024
Category: Carbon, Climate & Bioenergy
Region: Canada

Jonathan Wilkinson

CALGARY — Shell Canada’s decision last week to greenlight its Polaris carbon capture project is likely just the start of a wave of positive investment decisions by proponents of the emissions-reducing technology, said federal Natural Resources Minister Jonathan Wilkinson. Wilkinson said he expects 20 to 25 commercial-scale carbon capture and storage projects to break ground in Canada within the next decade. He added he expects some of those projects will be green-lit by companies soon, now that a new federal investment tax credit for carbon capture and storage is in effect. …Wilkinson said, companies now have the ability to apply for and receive the credit. He said the tax incentive, which will cover up to 50 per cent of the capital cost of carbon capture projects, is what many heavy industrial companies have been waiting for in order to make a final investment decision.

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