in News Departments > Projects & Contracts
print the content item

Canadian Hydro Developers Inc. has entered into a definitive agreement to acquire the rights to a 4,400 MW offshore wind prospect in Ontario from Wasatch Wind Inc., a private U.S.-based renewable energy company. The agreement is subject to customary due diligence, and the terms are confidential.

The offshore wind prospect will be located approximately five to 30 kilometers offshore in one of the Great Lakes bordering Ontario, near available transmission interconnection. It has an estimated net capacity factor of 40%. The prospect is eligible for the Ontario Green Energy Act's feed-in-tariff 20-year contract at a price of C$190/MWh, subject to 100% of Ontario consumer price index (CPI) inflation from contract signing to commercial operations and 20% of Ontario CPI annually thereafter.

Canadian Hydro anticipates that the offshore wind prospect will be built in stages, with the first 400 MW to 500 MW to come online by the fourth quarter of 2014. Regulatory and environmental permits and approvals, site release from the Ontario Ministry of Natural Resources and financing are required prior to proceeding with construction.

SOURCE: Canadian Hydro Developers Inc.


IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015