The company continues to advance the development of its portfolio of prospective hydro, wind, and solar projects, and remains ready to respond to future requests for proposals.
In Ontario, the Ontario Power Authority released revised rules for the province’s Feed-In-Tariff Program last August, following a planned review process undertaken in the fall of 2011. While maintaining the province’s commitment to clean energy, rule changes have sought to streamline the submission and selection process using a points system, reduce tariffs (22% lower for large solar projects and 15% lower for wind projects) and revise them annually, improve municipal engagement, and encourage Aboriginal and community participation. Domestic content requirements have been maintained.
Innergex has a number of wind and solar projects it is preparing to submit under a future Large FIT application window. Other prospective projects in Ontario, especially in the wind sector, remain predicated on transmission grid expansion in the northern part of the province and represent more long-term growth potential.
In British Columbia, Innergex continues to advance development on a number of projects that would be eligible under the province’s Standing Offer Program. In accordance with the terms of this program, all permits and approvals must be obtained prior to submitting a project for a power purchase agreement. Also, the company firmly believes in the potential for wind to become a competitive source of renewable energy for this province. It hopes to capitalize on its strong presence, its positive track record with local communities and First Nations, and its expertise in wind energy as it continues to advance the development of a number of prospective projects.
In Québec, plans have been announced for a new Request for Proposals for the supply of 700 MW of wind energy, including a program for Aboriginal projects. This additional capacity would enable the province to reach its stated objective of developing 4,000 MW of installed wind energy capacity. Innergex remains ready to respond to this new call for wind power, when it comes, and looks forward to submitting a number of projects, including the 150 MW wind project it is developing in partnership with the Mi’gmaq Nation of Québec.