Plutonic, GE unit commit to buy Canada wind farm

subscribe

Plutonic Power Corp and a unit of General Electric Co said that they had committed to buying the Dokie Ridge wind project in western Canada after completing a due diligence investigation.

GE Energy Financial Services and Plutonic, a small Canadian hydro-electric producer, announced on June 1 that they planned to buy the uncompleted 144-megawatt project, whose owner, EarthFirst Canada, filed for creditor protection last year.

Since then the partners have been combing through the project's books, extending the due diligence several times.

GE and Plutonic plan to complete the acquisition in early November, with construction expected to be finished in early 2011 at an estimated cost of $225 million (US$210 million).

A GE affiliate will hold 49 percent and a Plutonic affiliate 51 percent of the Dokie partnership.

The project, which is in northeastern British Columbia and could be expanded to 300 MW of power, is the largest wind farm under construction in the Canadian province.

This is GE and Plutonic's first wind farm venture. They are already partners in hydroelectric projects in British Columbia.

EarthFirst has reported that the Dokie project, once completed, would generate 340 gigawatt-hours of power annually — enough electricity to meet the annual needs of 34,000 homes and avoid more than 229,000 tons of carbon dioxide emissions from a coal plant.

Related News

danish wind power

Wind Denmark - Danish electricity generation sets a new green record

COPENHAGEN - Danish electricity producers set a new green record in 2019, when an average produced kilowatt-hour emitted 135 gr CO2 / kWh.

It is the lowest CO2 emission ever measured in Denmark and about one-seventh of what the electricity producers emitted in 1990.

Never has a kilowatt-hour produced emitted as little CO2 as it did in 2019. And that's according to Energinet's recently published annual Environmental Report on Danish electricity generation and cogeneration, two primary causes.

One reason is that more green power has been produced because the Horns Rev 3 offshore wind farm, which can produce electricity for 425,000 households, was…

READ MORE
pg&e logo

PG&E’s Pandemic Response Includes Precautionary Health and Safety Actions; Moratorium on Customer Shutoffs for Nonpayment

READ MORE

ontario-drops-starlink-deal-eyes-energy-independence

Ontario Drops Starlink Deal, Eyes Energy Independence

READ MORE

sandvik goldcorp borden mine

Canadian gold mine cleans up its act with electricity

READ MORE

Alameda County Sheriff's deputy A. Gogna

Victims of California's mega-fire will sue electricity company

READ MORE