Canadian Hydro ends offshore prospect agreement

subscribe

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

Grid coordination opens road for electric vehicle flexibility

WASHINGTON - As electric vehicle (EV) sales continue to rev up in the United States, the power grid is in parallel contending with the greatest transformation in its 100-year history: the large-scale integration of renewable energy and power electronic devices. The expected expansion of EVs will shift those challenges into high gear, causing cities to face gigawatt-growth in electricity demand and higher amounts of variable energy.

Coordinating large numbers of EVs with the power system presents a highly complex challenge. EVs introduce variable electrical loads that are highly dependent on customer behavior. Electrified transportation involves co-optimization with other energy systems, like…

READ MORE
justin trudeau

Trudeau vows to regulate oil and gas emissions, electric car sales

READ MORE

Town of Gander forgives $250K debt from local curling club

READ MORE

nuclear plant

Entergy Creates COVID-19 Emergency Relief Fund to Help Customers in Need

READ MORE

alberta-proposes-electricity-market-changes

Alberta Proposes Electricity Market Changes

READ MORE