The Alberta Carbon Capture Incentive Programme (ACCIP) has been launched in the Canadian province to help various industries reduce their emissions with carbon capture, utilisation, and storage (CCUS) technology.
Provincial funding will be available once the federal government has legislated its CCUS investment tax credit and related operating supports, such as contracts for difference. The programme will build on the federal investment tax credit.
Premier Danielle Smith notes that Alberta has invested heavily in CCUS projects and is now encouraging the private sector to do the same. It is thought ACCIP will benefit oil and gas companies, hydrogen companies, petrochemical and cement firms, to name a few.
Developing CCUS is also a key component of Alberta’s Emissions Reduction and Energy Development Plan, which sets the path to reaching emissions targets while encouraging sustainable economic growth in the province.
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