Newfoundland to expropriate some AbitibiBowater assets
The provincial government will acquire the companyÂ’s ownership of hydro-electricity rights from the generating station at Star Lake, in addition to rights to harvest timber on government land, the news agency said, citing a statement today from Premier Danny Williams.
Assets to be expropriated do not include AbitibiBowaterÂ’s newsprint mill in Grand Falls-Windsor, Newfoundland.
Montreal-based AbitibiBowater announced December 4 it would close the mill, part of a plan to reduce costs as North American demand for newsprint declines.
Related News
Canada Invests Over $960-Million in Renewable Energy and Grid Modernization Projects
OTTAWA - Harnessing Canada's immense clean energy resources requires transformational investments to modernize our electricity grid. The Government of Canada is investing in renewable energy and upgrading the electricity grid to make clean, affordable electricity options more accessible in communities across Canada.
The Honourable Seamus O'Regan Jr., Minister of Natural Resources, today launched a $964-million program to support smart renewable energy and grid modernization projects that will lower emissions by investing in clean energy technologies, like wind, solar, storage, hydro, geothermal and tidal.
The Smart Renewables and Electrification Pathways Program (SREPs) supports building Canada's low-emissions energy future and a renewable,…
