Up to 40% in Funding Assistance Available for Companies Investing in Transformative Projects in Quebec
In the Québec Economic Plan, the provincial government announced the implementation of a program to stimulate capital investment by large industrial companies that are located in Québec. These companies can receive assistance in the form of reduced electricity costs, enabling them to recoup up to 40% of eligible project costs. Projects starting on or after January 1, 2022 can be submitted until December 31, 2022.
This program applies to businesses whose power consumption is 5,000 kilowatts (kW) or more and which is principally for an industrial activity. Key industries of focus include: Mining, Forestry, Oil & Gas, Manufacturing, Pulp & Paper, Iron & Steel, Chemicals and Construction.
- The enhancement of productivity or energy efficiency through the modernization of operating procedures
- The conversion of production processes to adapt existing products to market demand
- Increased output to adapt supply to market demand
- New production start-up