Summary
The Australian company that's building and financing Manitoba's new wind farm -- slated to be the biggest in Canada -- is nearing financial collapse, but the Doer government says there's nothing to worry about.
Manitoba Hydro CEO Bob Brennan and the Doer government said the company's North American energy division is solid, and the company offered the cheapest and most reliable power of any of the 84 bidders. And they said Hydro doesn't pay Babcock & Brown a cent until the electricity starts flowing.The new wind farm in St. Joseph will provide 100 megawatts more power at half the price of the new Wuskwatim dam. That raises the question: Why bother with costly northern dams that take years to build and often flood traditional aboriginal land? Why not just build wind farms? Manitoba Hydro CEO Bob Brennan said it still makes more sense in the long run to develop hydro dams first and use wind as a supplement. "We want a good blend and we'll manage it based on economics," Brennan said.See the full content of this document
Extract
Wind Farm On Track: Doer
Province downplays financial woes of Australian builder
The Australian company that's building and financing Manitoba's new wind farm -- slated to be the biggest in Canada -- is nearing financial collapse, but the Doer...See the full content of this document
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