November 30, 2012
Province Announces South Winnipeg Retail Development to Feature Geothermal Heating, Cooling
– – –Green Energy Incentives, Tax Credits Stimulating Geothermal Development: Chomiak
Seasons of Tuxedo, a 275,000-square-foot mixed retail development south of Sterling Lyon Parkway, will be served by a district geothermal energy system that will provide clean, renewable, efficient heating and cooling to 50 to 60 retail outlets, financial institutions and restaurants, Innovation, Energy and Mines Minister Dave Chomiak announced today.
“Increasing the use of geothermal technology in Manitoba is an important part of our government’s climate-change and energy strategies,” said Chomiak. “That’s why we’ve put effective policy tools in place, such as the Green Energy Equipment Tax Credit, which provides a tax rebate to help offset some of the upfront capital investment in a geothermal system.”
The Seasons of Tuxedo development can apply for provincial support including a Green Energy Equipment Tax Credit and a District Geothermal Grant.
“This development proves there is a strong business case for using geothermal technology in Manitoba,” said the minister. “The return on investment for this geothermal system is estimated to be less than eight years and each of the tenants will benefit from significantly lower utility costs for the life of the buildings.”
Fairweather Properties Inc., a Winnipeg-based property development firm, is currently developing phase one of the Seasons of Tuxedo retail development, with completion scheduled for 2013.
“The use of clean, geothermal energy to power major commercial developments bodes well for Manitoba’s environment and for the entire commercial world,” said Michael Nozick, president of Fairweather Properties. “I would like to congratulate everyone involved in the project for the insights, integrity, leadership and plain hard work that has made this development possible.”
More than 11,000 geothermal units have been installed in the province as of 2012 including innovative commercial geothermal systems at The Forks Market, Manitoba Hydro Place and an award-winning district geothermal system in the community of Île-des-Chênes that serves a community centre, fire hall and ice arena.
Compared to natural gas heating, geothermal significantly reduces greenhouse-gas emissions, saves operating costs and keeps more money circulating in the Manitoba economy, Chomiak said.
Information on Manitoba’s Clean Energy Strategy, geothermal heat pumps and expanded grants and tax credits is available at www.manitobaenergy.ca.
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