Canadian Hydro Signs Contracts With Ontario Power Authority

NAW Staff, Thursday 16 August 2007 - 01:00:00

Canadian Hydro Developers Inc., a Calgary, Alberta-based renewable energy developer, has been awarded two 20-year standard offer contracts from the Ontario Power Authority for the supply of 18 MW of electricity from two wind projects in Ontario.

Under the contracts, Canadian Hydro will receive C$110 per MWh for power generated. In addition, the company expects to be eligible for the Government of Canada's ecoEnergy Renewable Initiative of C$10 per MWh for 10 years.

The electricity will come from two phases of the Royal Road Wind Project, acquired by Canadian Hydro through the acquisition of Vector Wind Energy Inc. in December 2006. Located in Prince Edward County, near Picton in eastern Ontario, Royal Road will generate an aggregate estimated 47,300 MWh of power per year, according to Canadian Hydro. The anticipated capital cost of these projects is C$40 million.



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