No question. Listen, it's not just the United Kingdom, it's also countries like China; they are putting 1,000 megawatts of new electricity on the grid every 10 to 14 days, primarily coal.
So there are enormous opportunities for coal. We're seeing this growth in different parts of the globe. An enormous amount of global energy is coming from coal. Canada has an opportunity to be a world leader in the development of this technology. Our department does a significant amount of research right here in the labs at Bells Corners. With their oxy-fuel process, they can take virtually all of the pollutants out of the stack.
I said earlier in my speech that we have committed $240 million for a Saskatchewan project, the world's first fully integrated clean coal with CCS. There are clean coal plants, and a few of them are operating. I don't have the details, but there are a few. We are doing carbon capture and storage. Weyburn, Saskatchewan, is an example; it has one of the largest ones in the world. There are other CCS projects around the globe.
This is bringing the two technologies together for the first time. You're seeing a lot of growth. I've had discussions with my counterpart, the Secretary of Energy, in Washington. The United States has significant interest in this as well. These discussions also come up with my colleagues at the International Energy Agency.
I personally believe there absolutely is an opportunity for Canada in the development of this technology, but I actually think we need to get this technology into countries like India and China. We need to do everything in our power if we're going to make an impact on the environment on a global scale. And that's where the great benefit is.
Absolutely, this is one of the reasons we're investing in this technology. There is an economic gap. This is very expensive technology. As with any new technology, there's always an economic gap, but as we get started, that economic gap will narrow. We've seen it in Hibernia, we've seen it in the oil sands. That's why we're quite excited to get this project off the ground.