Canadian Geothermal Heat Projects Funding

Canoe Reach, Province of British Columbia
Borealis GeoPower obtained the geothermal exploration permits from the BC Ministry of Energy on October 17, 2010. The Canoe Reach Geothermal Project is a notional +/- 10 MWe standard hydrothermal project that is currently in the midst of exploration and assessment. It’s development would represent the first commercial geothermal power production in the Province of British Columbia and the first, fully green, baseload power generation alternative to large scale hydro in the Province.
Private funding

Ft. Liard Demonstration Project
A geothermal demonstration project has been approved for funding in the amount of $10-20 million under the Natural Resources Clean Energy Fund in the small northern community of Ft. Liard, NWT.  The project, which is a  collaborative effort between the federal government, the Acho Dene Koe First Nation and Borealis GeoPower Inc., aims to deliver a minimum of +/-1  MWe of electrical power (Phase I) and also +/- 1 MWth of direct heat (Phase II) to the Ft. Liard community (~750 homes) and it’s local greenhouse complex.
Private & public funding, recipient of CEF award between $10-20 M
Saskatchewan, Rafferty Project/ DEEP Earth Energy Production
 DEEP has received its first exclusive area for geothermal power development from the Saskatchewan Ministry of Energy and Resources. With the assistance of a third party consultant, Borealis Geopower, an
initial resource estimate has been completed with a positive outcome. The assessment suggests the economic viability of small geothermal power plants ( < 5 MW), but with additional rights secured on subsequent locations, DEEP can potentially achieve > 50 MW of clean power production. While the project is privately funded, DEEP was selected in SaskPower’s 2011 Green Options Partners Program Lottery for a Power Purchase Agreement (PPA), which will help in raising capital for initial geothermal drilling, expected to commence in 2013.
Type of funding: Privately funded. Currently raising funding in private sector.