Nova Scotia Power has entered negotiations with independent power producers for 240 MW of wind energy. According to Ralph Tedesco, president and CEO of Nova Scotia Power, discussions are under way with a number of developers for projects at eight sites throughout the province.
This addition of renewable energy represents the largest investment in new power generation in Nova Scotia since construction of the Point Aconi generating station in 1992.
‘By 2013, nearly 20 percent of all Nova Scotia's electricity will come from green sources like wind,’ says Energy Minister Richard Hurlburt. ‘Nova Scotia has some of the highest average wind speeds in Canada – and in the wind business, more speed means more power.’
The installation will represent an investment of more than $500 million for wind turbines and associated construction. The contracts for the energy produced by wind turbines will be worth approximately C$1.5 billion over the life of those contracts.
Power purchase agreements are scheduled to be signed by the end of this year, with installation of turbines to take place before the end of 2009.