Synex sleeping againWish it were us.
Ontario awards C$2 bln in renewable power projects
Mon Nov 21, 2005 12:30 PM ET
CALGARY, Alberta, Nov 21 (Reuters) - Ontario's government awarded C$2 billion ($1.7 billion) in contracts on Monday to build wind and hydro power projects in efforts to meet a goal to have renewable sources generate 10 percent of the electricity in Canada's biggest market.
Ontario Energy Minister Donna Cansfield said she granted awards for eight wind facilities and one hydroelectric development, which will supply a total of 975 megawatts, enough to power more than 250,000 homes.
The awards represented the conclusion of a request for proposals for 1,000 MW, issued in April 2004.
Combined with a previous request for proposals completed last year, Ontario, home to more than 12 million people, will be adding 1,370 megawatts of renewable energy, Cansfield said in a statement.
The government of Premier Dalton McGuinty hopes to have renewables supplying 2,700 MW of Ontario's power by 2010.
Over the past 10 years the province has grappled with severely tight power supplies due to a combination of surging demand, failed deregulation attempts, idle nuclear facilities and plans to shut down older and dirtier coal-fired plants.
Among the winning bids, Canadian Hydro Developers Inc. (KHD.TO: Quote, Profile, Research) will build two wind farms near Shelburne and Kingston, Ontario, for C$675 million, and a hydroelectric project near Timmins for C$64 million.
Enbridge Inc. (ENB.TO: Quote, Profile, Research) , Canada's No. 2 pipeline company, will build two wind farms on the eastern shore of Lake Huron -- in the shadow of Bruce Power, Ontario's biggest nuclear facility -- for C$400 million.
Epcor Utilities Inc., owned by the city of Edmonton, Alberta, will spend C$300 million building the Kingsbridge II wind farm, also near breezy Lake Huron.
Brascan Corp.'s (BAMlva.TO: Quote, Profile, Research) power unit was awarded the 90 MW Prince Phase II wind farm near Sault Ste. Marie, Ontario.
Other projects include the 76 MW Ripley, Ontario, wind project, a C$165 million development to be built by Suncor Energy Inc. (SU.TO: Quote, Profile, Research) and Spain's Acciona Energia, and another 101 MW wind project near Port Alma, Ontario.
The projects are slated to begin operations in 2006-2008.
Ontario's renewable projects follow a C$1.9 billion award for eight wind farm developments in neighboring Quebec last year. There has also been brisk wind farm development in southern Alberta over the past five years.
($1=$1.18 Canadian)
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