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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EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up.
Less demand coupled with more electricity generation from cheap renewable power sources and lower natural gas prices is forecast…
