Think Ontario if you are thinking green

- Canada expects to be pulling out of its recession by the middle of the year. Lending actually rose in December. Credit, for the most part, is flowing normally.

The reason? Canada has the wisdom to properly regulate its banks. Banks there have plenty of cash on hand to lend to creditworthy consumers and businesses. TheyÂ’ll survive the global financial mayhem.

The recession north of the US border is expected to be painful, but brief, even shorter than that of the early 1990s. So short, in fact, its time to start thinking ahead, thinking about growth and thinking about renewable energy and electric cars.

The Ontario Power Authority (OPA), the regulatory agency responsible for ensuring a reliable, sustainable supply of electricity for Ontario, has just awarded not one, or two, or three, four or five, but six long-term contracts for power from wind energy projects. The contracts will lead to the construction of 500 megawatts of wind capacity and help Ontario in its goal to eliminate power generated from coal-fired power plants by 2014.

The wind farms will make jobs too. OPA expects 2200 direct and indirect jobs to be created. The direct jobs are those in the construction, management and maintenance of the wind farms. Indirect jobs will be in the manufacturing of building materials and services such as engineering design, legal, accounting and real estate.

Aside from the availability of clean power for Ontarians, landowners who host wind turbines are expected to receive about $3 million each year in lease payments. Municipalities will receive about $1 million per year in tax revenues.

Together the projects will cost about $1.32 billion. All of the projects are expected to be complete by 2012 and the power contracts are for 20 years.

Related News

ntpc logo

NTPC bags order to supply 300 MW electricity to Bangladesh

NEW DELHI - NTPC, India’s biggest electricity producer, on Tuesday said it has won a tender to supply 300 megawatts (MW) of electricity to Bangladesh for 15 years.

Bangladesh Power Development Board (BPDB) had invited tenders for supply of 500 MW power from India for short term (1 June, 2018 to 31 December, 2019) and long term (1 January, 2020 to 31 May, 2033). NTPC Vidyut Vyapar Nigam (NVVN), Adani Group, PTC and Singapore-bases Sembcorp submitted bids by the scheduled date of 11 January.

Financial bid was opened on 11 February, the company said in a statement. “NVVN, wholly-owned subsidiary…

READ MORE
central asian power shortage

Why Is Central Asia Suffering From Severe Electricity Shortages?

READ MORE

 PJM control room

After alert on Russian hacking, a renewed focus on protecting U.S. power grid

READ MORE

powerlines

Hydro-Quebec begins talks for $185-billion strategy to wean the province off fossil fuels

READ MORE

net zero power grid

Can Canada actually produce enough clean electricity to power a net-zero grid by 2050?

READ MORE