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Boralex Acquires 100 MW Of Wind Power In Ontario
Montreal, Canada (SPX) Jul 17, 2008 Boralex has announced that it has acquired the rights for a wind project with a potential installed capacity of 100 MW in Ontario. This wind power project, located in the municipality of Chatham-Kent, will be submitted into the Ontario Power Authority's Request for Proposal III for 500 MW of Renewable Energy Supply likely due this fall. This request for proposal represents one of the measures taken by the Ontario Government in view of obtaining 2,000 MW of renewable energy. "This strategic acquisition allows Boralex to reinforce its presence in Canada, principally in a region favourable to the production of renewable energy, and in a sector where its expertise is recognized" mentions Patrick Lemaire, President and CEO." He also adds: "Boralex and Gengrowth have united each others forces one more time." This wind power site was developed by Gengrowth who will continue to work with Boralex on the project. Paul Merkur, President of Gengrowth comments: "This competitive project demonstrates Gengrowth's high quality development expertise and we are excited to be partnering on this opportunity with a first class organization." In 2007, Boralex acquired also from Gengrowth, the rights for nine wind farms in this south-western Ontario. These nine wind farms have signed electricity sales contracts with the Ontario Power Authority under Ontario's Renewable Energy Standard Offer Program. The construction of three of these nine farms should start in the fall after obtaining the municipal permits. Related Links Boralex Powering The World in the 21st Century at Energy-Daily.com
GE Unit Surpasses Four Billion Dollar Renewable Energy Mark
Stamford CT (SPX) Jul 15, 2008With a goal of investing $6 billion in renewable energy by 2010, GE Energy Financial Services surpassed the $4 billion mark by investing in New York State's three newest wind farms. The unit of GE will invest a total of $100 million in the three wind farms, whose construction began last month. |
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