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Liberal Party re-election in Canada renews hope for renewable energy

Green energy sector cheers Ontario election result, (Reuters) by Nicole Mordant in Vancouver 8 Oct 11,  – Ontario’s renewable energy industry breathed a sigh of relief on Friday and manufacturers looked forward to a surge in demand after voters in the province returned the Liberal Party to power, albeit without a majority.

Shares in renewable energy companies rose on expectations of an end to an industry slowdown caused by months of uncertainty over the future of the Liberal-sponsored green energy plan and its generous feed-in tariff (FIT) scheme for renewable power developers.

The opposition Progressive Conservative Party, which had been well ahead in the polls for much of the campaign, had threatened to abolish the FIT program, which pays well above-market rates to developers of green power.

October 8, 2011 - Posted by Christina Macpherson | Canada, politics