Canadian Hydro Signs Agreement For Wolfe Island Wind Project

NAW staff, Friday 23 January 2009 - 09:29:44

Canadian Hydro Developers Inc. - through its wholly owned subsidiary, Canadian Renewable Energy Corp. - says that the federal environmental assessment for the Wolfe Island Wind Project has been completed. The company has subsequently signed a contribution agreement with the Government of Canada for funding under the ecoENERGY for Renewable Power program for the project.

The Wolfe Island Wind Project, located near Kingston, Ontario, is owned and will be operated by Canadian Hydro. It is expected to generate approximately 594 GWh of renewable power annually.

With an estimated capital cost of C$450 million, this 197.8 MW project is under construction. The target commercial operation date is March 31. Under the ecoENERGY for Renewable Power program, the Wolfe Island Wind Project will receive a $10 per MWh incentive over the next 10 years, in accordance with the terms of the agreement.

SOURCE: Canadian Hydro Developers Inc.



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