Canada investing in green economy

May 6, 2013 at 7:20 AM

OTTAWA, May 6 (UPI) -- The Canadian government said it was investing more than $80 million in renewable energy projects to show it's serious about diversification, a minister said.

The Canadian government announced it was backing 55 clean energy projects through the investment of more than $82 million designated for its "ecoEnergy Innovation Initiative."

Canadian Natural Resources Minister Joe Oliver said investments in clean energy would stimulate the economy and protect the environment.

"This program demonstrates our tangible support for energy projects that drive energy innovation," he said in a statement.

The programs range from a $5.3 million investment in smart-grid technology in Toronto to a $4.5 million carbon capture and storage project in Nova Scotia. A $500,000 biomass center led by an aboriginal group is part of the program in Yukon federal territory.

Canada is one of the largest producers of oil and natural gas in the world.

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