CCEMC provides $46 million for renewable energy projects

October 16, 2013, Edmonton, Alta. – The Climate Change and
Emissions Management (CCEMC) Corporation has committed more than $46 million in
funding for eight renewable energy projects. The eight projects have a combined
value of nearly $390 million.

“Renewable energy is now the largest part of the CCEMC
portfolio,” said CCEMC Chair Eric Newell. “With growing global energy demand,
it is critical that we continue to reduce greenhouse gas emissions. Renewable
energy will play an important role in helping Alberta to reach emissions
reduction goals and transition to a lower carbon future.”

The eight projects are estimated to combine to reduce
greenhouse gas emissions by more than five megatonnes over 10 years.

“CCEMC’s investment into renewable energy is a great example
of environmental stakeholders being a part of the solution,” said Diana
McQueen, Minister of Environment and Sustainable Resource Development. “Actions
like this and actions by this government continue to put Alberta at the
forefront of environmental stewardship and highlight our commitment to reducing
greenhouse gas emissions.”

Renewable energy includes energy derived from feedstock that
is renewable and from natural or waste materials. Examples of renewable energy
opportunities include conversion of biomass and waste to energy, bio-fuels,
geothermal, mini-hydro, solar and wind.

The projects receiving funding are:

• GrowTEC on-farm waste to energy project, by Grow the
Energy Circle Ltd., Perry Family Potato Farm Sustainability Initiative

• Large Scale Building Integrated Solar PV Demonstration in
Production Housing by Landmark Group of Builders

• Implementation of High Solids Anaerobic Digestion
Technology at the Edmonton Waste Management Centre by Waste Management Services of the
City of Edmonton, partnering with University of Alberta

• The Wintering Hills Battery Storage Pilot Project, by
Suncor Energy, in conjunction with Teck

• Drayton Valley Aspen Integrated Resource Recovery (AIRR)
Facility by the Town of Drayton Valley

• Wavelength-Selective Solar Collectors (WSSCs) for Power
Generating Greenhouses and Carbon Capture, by the University of California,
Santa Cruz

• The Optimal Biocell by the University of Calgary

• Blackspring Ridge Wind Project. The project is a 50% joint
ownership between EEN CA Blackspring Ridge I Wind Project L.P. and Enbridge
Blackspring Ridge I Wind Project Limited Partnership (the “Co-Owners”) and the
project is managed by EDF EN Canada Development Inc. on behalf of the
Co-Owners.

The renewable energy projects are from the seventh round of
funding offered by the CCEMC. While most of the 99 submissions were from North
America, the CCEMC also received submissions from Europe, Asia, India, Africa
and the Middle East. Out of the 99 proposals received, 16 were shortlisted,
representing diverse and innovative renewable technologies.

The CCEMC is a not-for-profit corporation that operates
independently of government. The CCEMC focuses on stimulating transformative
change by funding projects that reduce greenhouse gas emissions and help
Alberta adapt to climate change. Funding for the CCEMC is collected from
industry. Since 2007, Alberta companies that annually produce more than 100,000
tonnes of greenhouse gas emissions over a baseline are required to reduce their
greenhouse gas intensity by 12 per cent. Paying $15 into the Climate Change and
Emissions Management Fund for every tonne over the reduction limit is one compliance
option.

Yesterday, the CCEMC announced that it was making $40
million available to support projects that reduce greenhouse gas emissions or
enhance carbon sequestration from biological sources.

The CCEMC has committed funding to 51 projects valued at
nearly $1.3 billion.

In total, the projects are estimated to reduce greenhouse
gas emissions by more than 10 megatonnes over 10 years. The organization is
also funding a program aimed at reducing emissions from biological sources and
supporting three projects to help Alberta adapt to climate change.