Plutonic gets $73 million for Toba power project
TOBA INLET, BRITISH COLUMBIA - A Plutonic Power small hydro project in Toba Inlet will receive up to $73 million in funding under Ottawa's ecoENERGY for Renewable Power Program, Natural Resources Minister Lisa Raitt announced.
The East Toba River and Montrose Creek hydroelectric project gets a $10 per megawatt hour incentive from the federal government for the first 10 years of operation.
The $600-million, 196-megawatt project is on schedule for completion in mid-2010, according to a news release.
Plutonic and its partner GE Energy Financial Services, will get a $10 per megawatt hour incentive on all electricity produced over the first 10 years of operations and the government calculates that will add up to $72 million over a decade, according to the release.
“This is one more example of how our government is increasing Canada's ability to produce clean, renewable energy,” Raitt said in the news release.
“This investment in hydroelectric power will create jobs and contribute to competitive energy prices in the province, all while reducing our impact on the environment.”
“The development of clean, renewable energy projects is instrumental in achieving both federal and provincial governments' initiatives on climate change and federal support through programs like ecoENERGY are important to the industry's success,” Plutonic vice-chair and CEO Donald McInnes said in the release.
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Federal government spends $11.8M for smart grid technology in Sault Ste. Marie
SAULT STE MARIE - PUC Distribution Inc. in Sault Ste. Marie is receiving $11.8 million from the federal government to invest in infrastructure.
The MP for the riding, Terry Sheehan, made the announcement on Monday.
The money will go to the utilities smart grid project.
"This smart grid project offers a glimpse into our clean energy future and represents a new wave of economic activity for the region," Sheehan said.
"Along with job creation, new industries will be attracted to a modern grid, all while helping the environment."
His office says the investment will allow the utility to reduce outages, provide more information to customers…