Tax credits rev up Canada’s CCS sector
Recently finalised investment tax credits have brought much-needed clarity for Canadian CCS developers, but carbon price uncertainty remains a concern
Three CCS projects achieved FID or came close to doing so in Canada within a few weeks of the federal government finalising its investment tax credits (ITCs) for such projects. Bill C-59 received royal assent in the second half of June, opening the way for ITCs that cover 50% of capture equipment costs and 37.5% on transportation and storage equipment for expenditure between 2022 and the end of 2030, and half those amounts for expenditure to the end of 2040. The three CCS projects are: Shell Canada’s 650,000t/yr Polaris project at Scotford, Alberta, and the first phase of the associated Atlas Carbon Storage Hub in partnership with ATCO EnPower; the 160,000t/yr second phase of Entropy’s Glaci
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