"We spent much of the last year carefully evaluating our potential partners for this innovative development opportunity," says John Douglas, President and Chief Executive Officer of Ventus Energy Inc. "Over time, the choice became obvious. Who better to proceed with than the people of Labrador?"
Ventus Energy forged a relationship with Metis Development Corporation, and had preliminary discussions with the Innu, Government of Newfoundland and Labrador and Newfoundland and Labrador Hydro. "We are very keen to ensure that the concerns of the Innu and Innu business community, and other residents of Labrador, are fully considered in this development," says Mr. Douglas. "We look forward to participating with the province in the evolution of its energy plan and firmly believe there is a viable role for an independent power producer."
Labrador Ventus Limited Partnership will conduct public consultations throughout the province beginning in February 2006.
"We agreed to partner with Ventus Energy because they have a strong wind energy development team and have been well capitalized by reputable institutional shareholders," says Jamie Snook, General Manager of MDC. "Development plans have been structured to ensure that every dollar possible is spent in the province and that maximum economic benefits accrue to the people of Labrador."
Labrador Metis Nation President Chris Montague says the development will advance Labrador into the 21st Century as a world leader in wind energy. "We are very impressed with Ventus as a developer, and we look forward to working with them in this exciting project," he says. "This is a sound environmentally-friendly project that will result in benefits for the people of Labrador, the province, and the entire country."
The Height of Land Wind Park will have the capacity to produce enough zero-emission electricity to power 500,000 homes and displace the equivalent of three million tonnes of carbon dioxide per year. Local, regional and provincial economic benefits will be significant, providing over 2,000 direct and indirect construction jobs and over 200 direct and indirect long-term operation and maintenance jobs in Labrador.
This private-sector solution to energy development will not require any provincial or federal grants or loans in order to proceed. Negotiations of a power purchase agreement to sell the expected annual production are currently under way with potential customers.
Development activities to date include:
- the completion of a comprehensive wind prospecting field trip throughout Labrador and Newfoundland in the summer of 2005;
- the installation of wind monitoring equipment in the project area, which included obtaining permits from Transport Canada, NAV CAN and Crown Lands (Newfoundland and Labrador Department of Environment and Conservation and the Department of Natural Resources);
- the submission of an interconnection application to Newfoundland and Labrador Hydro in October 2005;
- the filing of and Environmental Registration Document with the provincial Department of Environment and Conservation; and
- the filing of a Project Description with the Canadian Environmental Assessment Authority.
Ventus Energy is developing over 5,000 MW of potential wind power projects at 25 sites in Ontario, Quebec, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
The Company has secured rights to over 17 million acres of land to conduct wind energy developments, and believes this represents the largest portfolio of potential wind energy projects in Canada.
Ventus Energy has also secured partnerships with the Cree Nation of Chisasibi, along the La Grande River Hydro Complex in Northern Quebec; Kwesawek Energy Inc. in New Brunswick; and the Pays Plat First Nation on the north shore of Lake Superior. The partnerships make Ventus Energy the largest developer of wind energy projects with Aboriginal people in the world.
The Company expects to begin construction of three wind farms representing 160 MW of new generation throughout the Maritimes in the summer of 2006.