Ventus Energy, Metis unveil $2.5-billion 'wind farm' project
ST. JOHN’S, N.L. — A $2.5-billion plan to develop one of Canada’s largest wind farms at a site in Labrador was announced Tuesday.
Ventus Energy Ltd., a privately held, Toronto-based firm, and Metis Energy Corp., a subsidiary of Metis Development Corp., have formed Labrador Ventus Limited Partnership for the proposal.
“The wind farm will be the largest in Canada with an installed nameplate capacity of 1,000 megawatts,” the partners said in a news release.
Negotiations of a power purchase agreement to sell the expected annual production are still going on, the company said.
The facility will be called Height of Land Wind Park and is expected to produce over three terawatt hours of electricity per year.
Development plans call for construction over a three-year period.
Pending regulatory approval, construction could begin in 2007.
“We spent much of the last year carefully evaluating our potential partners for this innovative development opportunity,” said John Douglas, chief executive of Ventus Energy.
“Over time the choice became obvious. Who better to proceed with than the people of Labrador?”
Ventus Energy has also held preliminary discussions with the Innu, the province and Newfoundland and Labrador, and Labrador Hydro.
Labrador Ventus Limited Partnership will conduct public consultations throughout the province, beginning in February.
The planned wind development would have the capacity to produce enough electricity to power 500,000 homes and displace the equivalent of three million tonnes of carbon dioxide per year.
Ventus Energy is developing over 5,000 megawatts of potential wind power projects at 25 sites in Ontario, Quebec, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
The company also expects to begin construction of three wind farms, representing 160 megawatts of new generation throughout the Maritimes, in the summer.
Metis Energy Corp. was established by the Metis Development Corp. to pursue energy development opportunities in Labrador.
17 July 2009
Tags: Wind power, Wind energy
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