The Department of Environment, Energy and Forestry of Prince Edward Island says that the province will wait until April 1, 2009, to invite developers to bring forward proposals for development of energy projects using the province's wind resources.
In October, the provinicial government said it would work with developers to bring up to 500 MW of wind energy to the province. However, a recent sharp drop in energy prices and increases in the cost of borrowing have prompted the government to postpone the RFP until some of the economic turmoil passes.
Current global economic conditions would make it difficult for developers and for the community to put together favorable wind power development arrangements, according to the government. In the coming months, the provincial government will be continuing to work on legislation and regulations related to wind development.
The government will also use the coming months to continue work on a project to develop a new high-capacity power cable to the mainland. Until the provincial government decides to proceed with the RFP process, it will not be receiving proposals for wind development aimed at the export market.
SOURCE: Government of Prince Edward Island