Gibson Energy has signed a 15-year carbon contract with the federal Canada Growth Fund (CGF), ensuring $85 for every tonne of carbon sequestered at its planned waste-conversion plant near Edmonton. This deal marks CGF’s second carbon-offtake agreement, following a similar contract with Entropy last year for $86.50 per tonne.
The CGF, with a $7-billion mandate, aims to incentivize carbon-reducing technologies by guaranteeing minimum CO2 prices. The CGF will hold a 40% stake in the Gibson plant, which will convert solid waste into energy and potentially sequester up to 200,000 tonnes of carbon annually. Deputy Prime Minister Chrystia Freeland emphasized additional measures, like tax credits, to ensure project viability.
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