The Ontario Power Authority (“OPA”) has indicated that the Bruce-to-Milton transmission project will have approximately 1,500 MW of capacity available for renewable power. Today’s OPA announcement identified a total of approximately 1,600 MW of projects competing for this capacity.
Accordingly, the OPA advised that the St. Columban project is subject to an Economic Connection Test (“ECT”) which will evaluate and rank the project relative to the other FIT projects for assignment of this capacity. Post-ECT contract awards are expected in the fall of 2010.
The proposed Grand Valley wind power project, located near Orangeville, applied for 50.8 MW of capacity in the FIT program. The OPA today announced that a contract is immediately available for 10.8 MW with the remaining 40 MW subject to the previously described Bruce-to-Milton ECT and ranking.
The Company and its partners are evaluating the awarded contract and ECT process in light of current construction plans to determine the ultimate capacity of the wind farm.
“The Ontario Government and the OPA have created the market and supplier environment for successful wind turbines development in Ontario,” said Jeffry Myers, President and Chief Executive Officer of Pristine.
“We are optimistic that the projects will rank well in the ECT for assignment of Bruce-to-Milton transmission capacity. If contracts are awarded, construction of the projects is expected to commence in late 2011 with commercial operations beginning in 2012.”
Pristine (TSX: PPX) is in the business of developing, owning and operating independent power plants that produce and sell electricity and in some cases, sell process steam to industrial users. Pristine capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities utilizing technology with proven past performance.
Pristine pursues a mix of large gas-fired, bioenergy and hydroelectric projects, and smaller replicable waste heat recovery ERG® and bioenergy projects. Pristine currently has three projects in operation, and two under contract and in advanced development. Pristine is developing projects in strategic regions of North America.