Sundance#1 came online at 20:00 but fell back offline at 21:07 yesterday.
Northland Power Income Fund announced that it has completed financing for its wholly-owned 260 megawatt North Battleford Energy Center project in Saskatchewan. The financing was provided by an international syndicate of 15 banks led by the Canadian Imperial Bank of Commerce, the Bank of Montreal, and Union Bank. Northland has also negotiated a swap to fix the term loan rate over the entire 20 year duration of the project’s Power Purchase Agreement with SaskPower. Construction of the 260 megawatt, natural gas-fired baseload facility began in May 2010. Commercial operations are expected to begin in the summer of 2013. The facility is being built under an engineer, procure and construct contract by Kansas City based Kiewit Power Partners, and will use a GE 7FA gas turbine operating in combined-cycle mode.
A new government document on community wind farms could mislead municipalities such as Fredericton into spending tens of millions of dollars on a project that could end up losing money. The Department of Energy recently published a paper called New Brunswick Community Wind Projects – Getting to the Tipping Point, which includes a mock business plan based on NB Power paying 10 cents a kilowatt/hour plus an inflation factor for wind-generated electricity. The province wants to buy 75 megawatts of electricity from community-owned renewable energy projects eventually. But that business plan assumes a small wind farm would operate 34.8 per cent of the time but realistically it should be viewed as 30% which could have a drastic effect on such a project’s cash flow.
