Canada Invests $59M in Ontario Wind Power Project
October 2, 2009 // Published as a news service by IHS
Canada will invest up to $59 million over the next 10 years toward the Wolfe Island EcoPower Centre, a wind power project in Ontario.
The Wolfe Island EcoPower Centre has 86 turbines capable of generating close to 600 gigawatt (GW) hours of clean electricity a year, enough to supply as many as 50,000 homes, according to Natural Resources Canada (NRCan).
The money for the project is being funded through the government's ecoENERGY for Renewable Power program.
The project, on Wolfe Island in Lake Ontario near Kingston, is owned by Canadian Renewable Energy Corp., a subsidiary of Canadian Hydro Developers Inc. The electricity generated is being sold to the Ontario Power Authority.
The $1.5-billion ecoENERGY for Renewable Power program provides a one cent per kilowatt-hour (kWh) incentive, with the goal of increasing Canada's renewable electricity capacity by about 4,000 MW.
Canada's Economic Action Plan builds on this investment with an additional $2.4 billion to support the development and deployment of cleaner energy technologies and supporting infrastructure, including the $1-billion Clean Energy Fund and the $1-billion Green Infrastructure Fund.
Source: Natural Resources Canada (NRCan).