EPCOR Utilities Reexamines Plans For Kingsbridge II Wind Farm
NAW Staff, Friday 26 January 2007 - 10:53:14
EPCOR Utilities Inc., an Edmonton, Alberta-headquartered developer of power plants and electrical transmission networks, has notified stakeholders that the company will be reexamining plans for the proposed Kingsbridge II wind farm in the township of Ashfield-Colborne-Wawanosh, near the south shore of Lake Huron.
According to the company, based on the current status of required local and provincial approvals, and uncertainties about the time line for certain future approval processes, it has decided to reexamine the project design and schedule, and is terminating arrangements with certain suppliers. The company expects to recognize charges resulting from these decisions - which could be as much as $20 million before taxes - in its financial statements.
The 160 MW Kingsbridge II project was selected by the Ontario Ministry of Energy through a request for proposal process in November 2005, and assigned to the Ontario Power Authority for management. EPCOR's contract for Kingsbridge II remains in effect, the company adds.
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