Canadian Hydro ends offshore prospect agreement

CALGARY, ALBERTA - Canadian Hydro Developers, Inc. has terminated its previously announced definitive agreement with Wasatch Wind, Inc. to acquire a subsidiary of Wasatch that is developing a 4,400 MW offshore wind prospect located in Lake Erie.

Wasatch is a private U.S.-based renewable energy company. Terms of the Agreement remain confidential.

On October 23, TransAlta Corporation's acquired approximately 87 per cent of the outstanding common shares of Canadian Hydro. Canadian Hydro now believes that based on the growth opportunities available, off shore wind is not a priority at this time.

Related News

A resilient Germany is weathering the energy crunch

BERLIN - German industry and society are once again proving much more resilient and adaptable than certain people feared. Horror scenarios of a dangerous energy rationing or a massive slump in our economy have often been bandied about. But we are nowhere near that. With a challenging year just behind us, this is good news — not only for Germany, but also for Europe.

Companies and households reacted swiftly to the sharp increases in energy prices. They installed more efficient heating or production facilities, switched to alternatives and imported intermediate products. The results are encouraging: German households and businesses have reduced…

READ MORE
turkey solar panel

Covid-19 puts brake on Turkey’s solar sector

READ MORE

ns power meter

Nova Scotia can't order electric utility to lower power rates, minister says

READ MORE

Canada Energy Regulator

Learn how fees and usage impacts your electricity bill in new online CER tool

READ MORE

Warren Buffett

Warren Buffett’s Secret To Cheap Electricity: Wind

READ MORE