Husky Energy to receive Canadian Government grant
Husky Energy has been awarded a grant of CA$72.8 million (€46.5 million) from the Canadian Government towards the cost of its ethanol plant in Minnedosa, Manitoba.
The plant, which produces ethanol from corn, has a capacity of 130 million litres a year.
The award will be funded under the CA$1.5 billion ecoENERGY scheme, which provides new plants with investment for infrastructure development and, if the profit margins fall too low, operating subsidies for a maximum of seven years.
The scheme is designed to stimulate the growth of the Canadian biofuels industry in advance of the scheduled introduction of an E5 mandate in 2010 and a B2 mandate in 2012.
The plant, which produces ethanol from corn, has a capacity of 130 million litres a year.
The award will be funded under the CA$1.5 billion ecoENERGY scheme, which provides new plants with investment for infrastructure development and, if the profit margins fall too low, operating subsidies for a maximum of seven years.
The scheme is designed to stimulate the growth of the Canadian biofuels industry in advance of the scheduled introduction of an E5 mandate in 2010 and a B2 mandate in 2012.
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