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Sunday, December 18, 2005

Ontario THE wind hotspot; Cdn Hydro (KHD) gets 350 of 955 megs awarded

350 MW from Wind and Hydroelectric to Supply Ontario

November 23, 2005

Calgary, Alberta [] Three of Canadian Hydro Developers' major project are slated to supply 349.8 MW of electricity from wind and hydroelectric projects in 20-year Renewable Energy Supply II contracts from the Ontario Power Authority. The power will come from the 132.0 MW Melancthon II Wind Project, the 197.8 MW Wolfe Island Wind Project, and the 20.0 MW Island Falls Hydroelectric Project.

Located near Shelburne, Ontario, Melancthon II is the second phase of the Melancthon Wind Project, where phase I (67.5 MW) is currently nearing completion. Melancthon II will consist of 88 1.5 MW wind turbines that will generate an estimated 350,000 MWh per year of green power -- enough to power 50,000 households. The anticipated capital cost of this project is $265 million. Pending regulatory approvals and financing, construction is scheduled to start in the spring of 2006, with completion expected in the spring of 2007.

Wolfe Island will consist of 86 2.3 MW wind turbines located on Wolfe Island, near Kingston, Ontario. It will generate an estimated 537,000 MWh per year of green power -- enough to power 75,000 households (more than the Kingston metropolitan area). This project is expected to cost $410 million. Construction is scheduled to begin in the spring of 2007, after obtaining regulatory approvals and financing, with completion expected by October 2008.

Island Falls, located near Timmins, Ontario, is a 20.0 MW run-of-river hydroelectric project, owned 50 percent by Canadian Hydro and 50 percent by two private developers. Estimated generation of 93,000 MWh per year will be enough to power 13,000 households - more than half of Timmins. Capital cost projections for this project are $64 million. The next steps involve securing regulatory approvals and financing, following which construction is scheduled to start in the spring of 2007, with completion expected by October 2008.

"This is an incredible win for all stakeholders, including Canadian Hydro, the people of Ontario and our project communities," said John Keating, CEO of Canadian Hydro. "These projects will more than double Canadian Hydro's green power generation in the next three years and increase our market presence in Ontario."

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