Alberta Government Releases Further Details On Carbon Capture Incentive Program

On April 3, 2024, the Government of Alberta (Province) provided a further update on the specifics of eligibility and eligible costs for the Alberta Carbon Capture Incentive Program (ACCIP). The ACCIP will support and accelerate the development of new carbon capture, utilization and storage (CCUS) infrastructure in Alberta by providing incentives for facilities to incorporate CCUS technology into their operations. The ACCIP program is expected to provide between $3.2 to $5.3 billion of support between 2024 and 2035. We previously reported on the main features on the ACCIP, which can be read here.

Main Features

• The ACCIP will be finalized following the federal government enacting the CCUS investment tax credit (CCUS ITC) and related operating supports, such as contracts for difference. Since our previous update on the ACCIP, our Tax team has provided an in-depth analysis of the CCUS ITC, which can be found here. The ACCIP is structured to complement the federal