Part II of todays earlier post is still on the way, however this article just caught my eye, and – in my opinion – is cause for more than a minor celebration.
By Tom Fletcher – BC Local News
Published: June 17, 2010 2:00 PM
Updated: June 17, 2010 2:27 PM
B.C.’s biggest run-of-river proposal is the latest alternative electricity investment to be slowed or stopped in a shifting political environment for private power development.
The Bute Inlet project is designed to include 17 stream diversions and powerhouses in a steep fjord north of Powell River. After missing out on a BC Hydro power purchase contract and seeing the B.C. government’s new Clean Energy Act that passed this spring, developer Plutonic Power Corp. wrote to the federal environmental review panel to say it is putting its plan on hold for further study.
Rupert Legge, president of Plutonic subsidiary Bute Hydro Inc., said in an interview the company has done further field work this year, but hasn’t yet decided whether the project will be scaled back.
“While the Clean Energy Act makes some improvements in the governance framework for electricity development in B.C., there is no immediate certainty for procurement of new projects, with a new planning process just beginning,” Legge said.
Another project that failed to secure a BC Hydro power purchase offer this spring is NaiKun Wind, proposing to build offshore wind towers in Hecate Strait near Haida Gwaii that would power the equivalent of 130,000 homes. NaiKun said it would continue working with the federal government and the Haida Nation, which would be a co-owner.
Paul Taylor, a former Insurance Corp. of B.C. president, left the top executive post at NaiKun this week. He said in March that large electricity developments need a “fair, predictable” power purchase system and a power export framework in provincial legislation.
Read the rest of this article here http://www.bclocalnews.com/surrey_area/surreyleader/business/96600804.html
Interesting timing on this, look for more executives to jump ship in these private power companies as they begin to see the writing on the wall….