Boost for wind power
As anticipated, the new federal government has committed to contribute real dollars to several renewable resource sectors, including the wind power industry.
“METCHOSIN, B.C. — The federal government is putting more than $1.5 billion into funding alternative energy technologies, Prime Minister Stephen Harper announced Friday.
‘There is no end to the potential of alternative, non-polluting energy sources,’ Mr. Harper said in this community just outside Victoria. He said the intitiative will ‘harness the power of our environment to help protect the environment for all Canadians.’
The first component of the so-called ecoEnergy Renewable Initiative is designed to increase supplies of clean electricity from renewable sources like wind, biomass, small hydro and ocean energy. A 10-year incentive program will be established to fund eligible projects to be constructed over the next four years….”
Hats off to the government for recognizing the benefits of a broader energy strategy. Those retail investors that put their funds into the recent Ventus West Cape IPO, among other offerings, appear to have been rewarded for their confidence in alternative energy – despite the naysaying by Old Economy Beefeaters Eric Reguly and Richard Blackwell (and the retail stockbrokers that take their advice).