GE unit invests in wind farm
Bankers Commercial Corp., a unit of UnionBanCal, bought the other 50 percent stake in the Alta Wind I farm in Kern County, California. Terms were not disclosed.
The farm, which uses 100 GE 1.5 megawatt turbines, was completed late last year. It is being leased back to its developer and operator, Terra-Gen Power, marking the first time GE has used a lease for a wind farm, GE said.
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Court reinstates constitutional challenge to Ontario's hefty ‘global adjustment’ electricity charge
TORONTO - Ontario’s court of appeal has decided that a constitutional challenge of a steep provincial electricity charge should get its day in court, overturning a lower-court judgment that had dismissed the legal bid.
Hamilton, Ont.-based National Steel Car Ltd. launched the challenge in 2017, saying Ontario’s so-called global adjustment charge was unconstitutional because it is a tax — not a valid regulatory charge — that was not passed by the legislature.
The global adjustment funds the difference between the province’s hourly electricity price and the price guaranteed under contracts to power generators. It is “the component that covers the cost of…
