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Green Building
June 10, 2008
Cost of Wolfe Island wind power project rises to $450 million
CALGARY
Canadian Hydro Developers Inc., a Calgary-based wind power company, says it is raising the estimated cost of its Wolfe Island wind power project in eastern Ontario to $450 million from $410 million.
The company revised its estimate last Wednesday after revealing that it has received environmental approval from the Ontario government and can go ahead with construction.
The project is being built by wholly owned subsidiary, Canadian Renewable Energy Corp., and is slated for operation next spring.
The company says it expects to produce 593,500 megawatts of power a year, above the original plan for 537,000 megawatts. Start-up of the plant in eastern Ontario has been delayed to next March 31 from Oct. 31.
“We are pleased to have obtained this most significant regulatory approval,” said John Keating, chief executive of Canadian Hydro.
“We are working diligently to develop a responsible, sustainable wind plant on Wolfe Island that will deliver many benefits to the community and province and look forward to the start of construction.”
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