Plutonic, GE unit commit to buy Canada wind farm
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.
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BERLIN - The German government is phasing out nuclear power despite the energy crisis. The country is pulling the plug on its last three reactors, betting it will succeed in its green transition without nuclear power.
On the banks of the Neckar River, not far from Stuttgart in south Germany, the white steam escaping from the nuclear power plant in Baden-Württemberg will soon be a memory.
The same applies further east for the Bavarian Isar 2 complex and the Emsland complex, at the other end of the country, not far from the Dutch border.
While many Western countries depend on nuclear power, Europe's largest…
