Plutonic gets $73 million for Toba power project
The East Toba River and Montrose Creek hydroelectric project gets a $10 per megawatt hour incentive from the federal government for the first 10 years of operation.
The $600-million, 196-megawatt project is on schedule for completion in mid-2010, according to a news release.
Plutonic and its partner GE Energy Financial Services, will get a $10 per megawatt hour incentive on all electricity produced over the first 10 years of operations and the government calculates that will add up to $72 million over a decade, according to the release.
“This is one more example of how our government is increasing Canada's ability to produce clean, renewable energy,” Raitt said in the news release.
“This investment in hydroelectric power will create jobs and contribute to competitive energy prices in the province, all while reducing our impact on the environment.”
“The development of clean, renewable energy projects is instrumental in achieving both federal and provincial governments' initiatives on climate change and federal support through programs like ecoENERGY are important to the industry's success,” Plutonic vice-chair and CEO Donald McInnes said in the release.
Related News
Chinese govt rejects the allegations against CPEC Power Producers
BEIJING - Chinese government has rejected the allegations against the CPEC Power Producers (CPPs).
Chinese government has made it clear that a mammoth cooperation with Pakistan in the energy sector is continuing.
A letter written by Chinese ambassador to minister of Energy Omar Ayub Khan has said that major headway has been seen in recent days in the perspective of CPEC projects. But he wants to invite the attention of government of Pakistan to the recent allegations leveled against the CPEC Power Producers (CPPs).
The Chinese ambassador further said Energy is a major area of cooperation under the CPEC and the CPPs have…
