Boralex acquires rights for Ontario wind project
The wind power project, located in the municipality of Chatham-Kent, will be submitted into the Ontario Power Authority's third request for proposal (RFP) for 500MW of renewable energy supply likely due in fall 2008.
This RFP represents one of the measures taken by the Ontario government in view of securing 2,000MW of renewable energy.
Patrick Lemaire, president and CEO of Boralex, said: "This strategic acquisition allows Boralex to reinforce its presence in Canada, principally in a region favorable to the production of renewable energy, and in a sector where its expertise is recognized."
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TORONTO - Europe is currently suffering the consequences of an uncoordinated rush to carbon-free electricity that experts warn could hit Canada as well unless urgent action is taken.
Power prices in Germany, for example, hit a record 91 euros ($135 CAD) per megawatt-hour earlier this month. That is more than triple what electricity costs in Ontario, even during periods of peak demand.
Experts blame the price spikes in large part on a chaotic transition to a specific set of renewable electricity sources - wind and solar - at the expense of other carbon-free supplies such as nuclear power. Germany, Europe’s largest economy,…
