Alberta producers to receive biofuel tax credits

| Tuesday, October 10, 2006

The province of Alberta, Canada, where the plains meet the Rockies, is emerging as one of the northern nation’s leaders in renewable energy, thanks to a government commitment to biofuel.

Alberta Agriculture, Food and Rural Development will administer a $239 million grant program to encourage the manufacturing and distribution of biofuels and other renewable energy sources.

From 2007 to 2011, the government will issue tax credits to producers in the Renewable Energy Producer Credit program, which replaces a program specifically designed for ethanol.

The new program opens the market for biodiesel technology.

“This helps level the playing field with our global competitors and will help foster homegrown production of biodiesel and ethanol,” Tim Haig, chairman of the Canadian Renewable Fuels Association, stated in a press release.

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