PEI moves forward on 30 MW wind power project

The government of Prince Edward Island is giving residents a chance to invest in a planned 30 MW wind farm in the eastern part of the province. “Our wind resource in Prince Edward Island is one of the best in North America and we want all Islanders to have the opportunity to share the benefits of that resource,” says Premier Pat Binns.

A wind energy co-operative will be established to offer shares, which the province hopes to make RRSP eligible, to individual Islanders. The co-op will become a shareholder in a subsidiary of the government-owned PEI Energy Corporation, which will own the wind project.

The province has also released a request for information on project financing and a request for proposals for project design services. Construction of the $55-60 million wind farm is tentatively scheduled to start in spring 2006.