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Westbridge Provides Statement on the Government of Canada's New Commitment to Strategic Incentives in Energy Transition and Announces Corporate Update
Westbridge Provides Statement on the Government of Canada's New Commitment to Strategic I...
About this update from Westbridge Renewable Energy Corp
[{"type":"text","content":"\n \n \n \n Westbridge Provides Statement on the Government of Canada's New Commitment to Strategic Incentives in Energy Transition and Announces Corporate Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 5, 2022\n \n \n /CNW/ -\n \n Westbridge Energy Corporation\n \n (TSXV: WEB) (OTCQB: WEGYF) and (FRA: PUQ3) (\"\n \n \n Westbridge\n \n \n \" or the \"\n \n Company\n \n \") provides key highlights from the Canadian Government's commitment to new strategic clean energy incentives announced in its 2022 budget announced on\n \n April 7, 2022\n \n (\"Budget 2022\"). Budget 2022 aims in part to help Canadian businesses benefit from the global transition to a clean economy through investments in wind energy, solar energy, and electricity infrastructure in support of building a net-zero economy by 2050.\n \n Westbridge\n \n is expected to benefit significantly from the policy initiatives, as one of the leading Canadian solar and battery storage developers by megawatt capacity with a growing portfolio in\n \n Alberta, Canada\n \n .\n \n \n \n \n \n \n \n \n \n \n Highlights from Budget 2022 include:\n \n \n \n \n \n $2.4 million\n \n in 2022-23 to establish a Pan-Canadian Grid Council, which would provide external advice in support of national and regional electricity planning.\n \n \n Establishing a new Tax Credit for Investments in Clean Technology of up to 30% for battery storage solutions, clean hydrogen, and other net-zero technologies.\n \n \n \n $600 million\n \n over seven years for the Smart Renewables and Electrification Pathways Program to support additional renewable electricity and grid modernization projects.\n \n \n \n $25 million\n \n to establish Regional Strategic Initiatives to work with provinces, territories, and relevant stakeholders to develop net-zero energy plans.\n \n \n \n In a press release dated\n \n April 12, 2022\n \n , the Canadian Renewable Energy Association (CanREA) welcomed the positive news.  Brandy Giannetta, Vice Presid...