OBPS regulated emitters who exceed permitted emissions intensity levels are required to pay compliance, which can be met by using performance credits, or by paying into the Saskatchewan Technology Fund. These payments are then available to regulated emitters through a competitive application process to invest in innovative technologies that reduce greenhouse gas emissions.
Applicants are first required to submit an initial expression of interest, which is reviewed by Innovation Saskatchewan. If successful, industry applicants are invited to submit a more substantive full project proposal, which is assessed by an independent panel of third-party experts. If the external panel determines that the project is both technically and financially feasible, the proposal is evaluated by the Saskatchewan Technology Fund Review Committee, which provides its recommendations to the Minister of Environment. The Minister of Environment awards funding for successful projects.
The fund announced its first intake on September 29, 2023, with approximately $25 million available to support industry-driven projects that mitigate, sequester, or capture greenhouse gas emissions at eligible regulated facilities in Saskatchewan.
Details concerning the application and evaluation processes and related timelines, as well as project eligibility, can be found on Innovation Saskatchewan’s website and in the fund’s recently updated Saskatchewan Technology Fund: Governance, Administration and Operations Standard.
Technology Fund Webinar
The Ministry of Environment hosted a webinar on October 26, 2023, that provided an overview of the Technology Fund and its first intake for regulated emitters.