Funding announced! Find out more on the Innovative Energy Technologies Program
Published on July 15, 2011
The Innovative Energy Technologies Program (IETP) supports the Provincial Energy Strategy (PES), which identifies the need for innovation, research and technology development.
Announced in 2004, the IETP supports, innovative technology development in the production of Alberta's oil, oil sands, and gas resources and finding commercial technical solutions to the gas over bitumen issue to allow efficient and orderly production of both resources.
Over time program costs will be recovered through additional recoverable reserves and increased royalties.
Successful applicants in the program are provided with royalty adjustments up to a maximum of 30% of approved project costs. Industry must provide the remaining 70% or more of total project costs.
The total industry/government commitment to important new technologies, assuming full subscription of the program, will be more than $800 million.
As of July 14, 2011, Alberta Energy is now accepting applications under the Innovative Energy Technologies Program. The closing date for applications is September 30, 2011. Go to the Government of Alberta site for more information.