With continued interest in the Green Transition Fund, today, the Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, announced $1.36 million to support green projects throughout the province.
Through the expression of interest process, six new projects have been approved for funding through the Fund. These include:
- Deer Lake Regional Airport Authority – $101,000
- Labrador Leasing Limited – $221,851
- Newfoundland Power Inc. – $101,532
- North Atlantic Refining Limited (NARL) logistics LP – $746,952
- Nunacor Development Corporation – $40,000
- Pennecon Hydraulic Systems Limited – $149,200
Information related to the projects can be found in the backgrounder below.
The Green Transition Fund aims to propel the development of the renewable energy sector and clean technologies in the province and position Newfoundland and Labrador as a leader in the global green transition. This fund supports the greening of commercial operations, research and development, manufacturing and extractive resource development, and other areas that help transition to a greener economy.
There has been significant interest shown for the Provincial Government’s Green Transition Fund with approximately $3.6 million in funding awarded. To date, throughout the province there have been 19 projects approved and seven are currently under assessment by the department. This funding has leveraged significant investment from the Federal Government and private sources.
Quotes
“Just over a year into this program, we are seeing incredible initiative and ingenuity from businesses and organizations in our province as part of the global green transition. Our province continues to be a leader in supporting a green economy. This fund represents the future and is contributing to long-term job creation and economic growth in Newfoundland and Labrador.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“It is clear, seeing the quality of projects that are being supported through the Green Transition Fund, that the program has already been a catalyst for green economic growth in Newfoundland and Labrador. Our province has the potential to become a clean energy leader on a global scale – and investments like these are helping to position us for success.”
Kieran Hanley
Chief Executive Officer, econext
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BACKGROUNDER
Below are projects approved to receive funding from the Green Transition Fund.
Deer Lake Regional Airport Authority
The Deer Lake Regional Airport Authority is receiving $101,000 to support the first step in its efforts to reduce emissions and provide a framework for improvements in the future. Execution of this project will support the Deer Lake Airport’s competitiveness with other airports who have initiated net-zero carbon emission upgrades and Deer Lake Airport will be in a stronger position of supporting travel to the region and bolstering economic development. Implementing energy-efficient technologies and practices can significantly reduce utility bills, fuel costs, and overall operational expenses.
Labrador Leasing Limited
Labrador Leasing Limited is receiving $221,851 to implement oil recycling technology, which will reduce the environmental impact and operating costs with the implementation of a proven clean technology on seven vessels. This will reduce the company’s consumption, storage, transportation and disposal of hazardous lubricating, hydraulic gear, as well as thermal heating oils. This will directly reduce their carbon footprint (GHG emissions) while improving the efficiency, reliability and safety of vessel machinery.
Newfoundland Power Inc.
Newfoundland Power is receiving $101,532 to implement a pilot project involving adding a green alternative, synthetic oil, to their mineral based oil in electrical transformers. This project will provide data for the purpose of greening their operations. The adoption of an environmentally friendly and safe synthetic oil will be evaluated providing a range of potential benefits. Anticipated benefits include reduced environmental impacts, mitigated health risks, reduced costs and improved employee safety.
North Atlantic Refining Limited (NARL) logistics LP
North Atlantic Refining Limited (NARL) is receiving $746,952 in funding to facilitate the planning to establish a Green Energy Hub which will be an essential first step for NARL to become an active contributor to the province’s green economy. NARL intends to utilize their existing infrastructure to develop capacity for the export of low carbon intensity fuels including ammonia and other hydrogen derivatives, particularly methyl-cyclohexane.
Nunacor Development Corporation
Nunacor Development Corporation, the economic development arm of the NunatuKavut Community Council (NCC), is receiving $40,000 to better understand green technologies and how they could be incorporated for NCC communities. Nunacor’s Indigenous Power Transmission and Distribution Opportunities Assessment Project explores the potential of electricity transmission and distribution business development in NunatuKavut communities located in Southern Labrador. Nunacor’s long-term vision includes maximizing renewable energy penetration opportunities for communities that currently depend on isolated diesel powerplants for electricity. Focus on green technology developments will help increase the corporation’s energy sovereignty and security by acquiring the capacity and knowledge to develop their own clean energy generation portfolio as an Inuit-owned independent power producer.
Pennecon Hydraulic Systems Limited
Pennecon Hydraulic Systems Limited is receiving $149,200 to advance green innovation and commercial development related to the aquaculture industry. The proposed project will result in a significant positive impact on the aquaculture sector. This funding will go towards the evaluation of the operational and economic feasibility of both a fully electric and hybrid propulsion technologies and provides the opportunity to eliminate the use of diesel-powered Aquaculture barges in Atlantic Canada and elsewhere with the goal of reducing Green House Gas emissions in the sector.