A Cape Breton paper mill says a federal investment in 24 new wind turbines completes the financing of a project that will secure its future electricity needs. The Canada Infrastructure Bank has announced it will provide $224.2-million in loans for Port Hawkesbury Paper Wind Ltd., which will supply about 60 per cent of the average annual power needs of its sister company, Port Hawkesbury Paper.
Nigel Cave, the vice-president of Stern Partners, which owns the two firms, said during a news conference in Mulgrave, N.S., that the $450-million project, called Goose Harbour Lake wind farm, is now fully financed. The wind farm, which will be 10 percent owned by 13 Mi’kmaq First Nations, will be capable of generating 168 megawatts of electricity once the turbines begin operating in late fall 2026. The infrastructure bank says the project involves the installation of Nordex turbines in Guysborough County on lands owned by the paper company, located across the Strait of Canso from the plant. In total, the wind farm is expected to reduce greenhouse gas emissions by more than 350,000 tonnes a year, equivalent to 2.4 percent of Nova Scotia’s emissions in 2021. Port Hawkesbury Paper produces paper for magazines and catalogues, directly employs approximately 325 people, and contracts another 900 jobs. It also provides income to hundreds of forestry contractors and suppliers. Stern Partners, based in Vancouver, purchased and restructured the paper company through the Companies’ Creditors Arrangement Act, and the factory resumed production in 2012
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Cape Breton Paper Mill Secures Electricity Future with Wind Farm InvestmentA Cape Breton paper mill secures its future electricity needs with a $450-million investment in a new wind farm. The Canada Infrastructure Bank will provide $224.2 million in loans for the project, which is expected to generate 168 megawatts of electricity and reduce greenhouse gas emissions.
Fonte: globebusiness - 🏆 31. / 66 Leggi di più »