Publicly owned wind farms operated by the Prince Edward Island Energy Corp. recorded C$3.5 million in wind energy profits for 2010, says Environment, Energy and Forestry Minister Richard Brown. The provincial crown corporation was also able to reduce the debt owing on its wind farms by C$10 million, according to the minister.
‘Recognizing the value of this industry, we intend to commission an additional 30 megawatts of publicly owned wind power, making [Prince Edward Island] a world leader utilizing wind power for domestic use,’ says Brown.
This past December marked the highest month of wind production at the corporation's East Point wind farm. Prince Edward Island Energy Corp.'s profits will be re-invested into further wind energy development as well as into the Office of Energy Efficiency.
Wind power also provides Maritime Electric with reasonably priced electricity. During the last power outage, the company was able to use 30 MW of power from the East Point wind farm to restore electricity, rather than relying on more expensive power from its oil-fired generating plant.