The timing couldn’t have been better for Calgary-based Kanin Energy to open an office in Texas last year. It was just as the U.S. government unveiled its massive climate bill, including tens of billions of dollars in new subsidies and other incentives for clean energy.
Kanin Energy develops facilities that use high temperature waste heat from industrial facilities to produce electricity. The new U.S. subsidies now cover up to half the cost of those projects.
“Not only are we seeing a lot of traction in Houston and Texas and in the United States in general, now there’s all these incentives that have really turbocharged our economics for our projects,” Janice Tran, the company’s CEO, said from her office in Houston. “So it made even more sense to actually kind of double down and grow here.”
It’s corporate welfare on a massive scale and the tax payer foots the bill.
