Canada Won’t Extend Program for Renewable Energy, Oliver Says
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Canada won’t commit new funding to a C$1.4-billion ($1.47 billion) program used by companies such as Suncor Energy Inc. and TransAlta Corp. to fund renewable-energy projects, Natural Resources Minister Joe Oliver said today.
Canada plans to cut C$4 billion in spending annually to help it balance its budget by the fiscal year starting April 2014. Oliver said spending restraint was one reason his department hasn’t renewed the ecoEnergy for Renewable Power program, which funded wind farms developed by Suncor and TransAlta as well as solar-power projects developed by Enbridge Inc.