The province has announced $1.36 million to support green projects. Through the expression of interest process, six new projects have been approved for funding through the Fund. These include:

• Deer Lake Regional Airport Authority – $101,000
• Labrador Leasing Limited – $221,851
• Newfoundland Power Inc. – $101,532
• North Atlantic Refining Limited (NARL) logistics LP – $746,952
• Nunacor Development Corporation – $40,000
• Pennecon Hydraulic Systems Limited – $149,200

The Green Transition Fund aims to propel the development of the renewable energy sector and clean technologies in the province and position Newfoundland and Labrador as a leader in the global green transition. This fund supports the greening of commercial operations, research and development, manufacturing and extractive resource development, and other areas that help transition to a greener economy. 

To date, throughout the province there have been 19 projects approved and seven are currently under assessment by the department.