Register with Cleantech Investor Login

Sign up for a Free E-Newsletter

Cleantech-Investor Blog
Week of March 21, 2010 PDF Print E-mail

California Steps it up... State Offering $30M in Loans for Cleantech

Perhaps it's looking for ways to aid it's ailing economy, or maybe lawmakers have just finally decided to get off their duffs and put some of the stimulus money to good use.  Regardless the reasons, this week the California Energy Commission announced that up to $35M worth of low-interest loans, funded by the Federal Stimulus, will be available to businesses that, "Want to expand, diversify or retool existing facilities to manufacture eligible energy efficiency of renewable energy products, components, systems or technologies,”

California-domiciled clean technology organizations can apply for the loans. The Clean Energy Business Financing Program (CEBFP) of the American Recovery and Reinvestment Act of 2009 (ARRA), was developed by the California Energy Commission to start plugging hundreds of millions in stimulus money offered to the state though the State Energy Program into the California economy.  

The California Business, Transportation, and Housing Agency is administering the program with four Financial Development Corporations.

According to the California Energy Commission, organizations can apply for loans between $50,000 and $5 million. To qualify, the project(s) must demonstrate program success, leverage other project funds and show profitability.

It will be interesting to see the types of companies that apply and the projects that they propose. 

British Columbia Hydro Projects Awarded

BC Hydro has selected 19 projects for an award of an Electricity Purchase Agreement in its Clean Power Call. Fourteen run-of-river hydropower and five wind projects representing around 900 MW of total capacity made the cut.

According to BC Hydro, twenty eight projects are still under consideration. Additional project selections will be posted as they are made. 

Following the execution of the contracts, BC Hydro will submit the electricity purchase agreements to the British Columbia Utilities Commission for its review. Further project details, including the range of electricity prices to be paid, will be available in the Commission filing.

BC Hydro's Clean Power call has been the subject of controversy.  The BC Utilities Commission originally rejected BC Hydro's Long-Term Acquisition Plan.  Questions regarding the scope of the Call and other issues delayed the final result.

BC "Green" Economy Could Reach $27B by 2020

A new, independent study by the Vancouver-based GLOBE Foundation assesses the economic and employment impacts associated with the transformation of the BC economy toward lower-carbon energy generation and usage, as well as business practices that reduce greenhouse gas emissions.

The report entitled, "British Columbia's Green Economy: Building a Strong Low-Carbon Future" emphasizes British Columbia's abundant natural resources, clean energy options, and advanced research and educational strengths.  It also talks about BC's location as "Canada's Pacific Gateway," which places it in a unique position to realize significant economic gains from a "Green" economy.

In a news release from the Globe Foundation, John Wiebe, President and CEO stated, "There is great potential for B.C. to be at the forefront of the emerging green economy by taking advantage of our existing assets such as our renewable energy resources and our diverse workforce."

The Globe Foundation study identified six sectors that form the core of the province's green economy: clean and alternative energy; energy management and efficiency; green building; environmental protection; carbon finance and investment; and green knowledge, which includes all of the major education, research, and training entities in BC.

According to the study, BC's six green sectors contributed $18.3 billion to the B.C. economy in 2008, accounting for nearly 166,000 full-time equivalent jobs, or over seven percent of total BC employment.  The six sectors contributed $15.3 billion to BC GDP.