Alberta has unveiled the Alberta Drilling Accelerator, a $50 million initiative funded by carbon tax revenue to support geothermal energy, helium, carbon capture, and critical minerals. Canada’s first open-access, technology-agnostic drilling hub will attract global investment and innovation, tackling high drilling costs that hinder geothermal projects.
Major energy players like Tourmaline Oil and Eavor Technologies are already involved. A feasibility study will determine the hub’s location, with operations set to begin in 2026. The non-profit project aims to repurpose Alberta’s oil and gas expertise for clean energy, fostering economic growth and supporting net-zero goals by 2050.
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