Posted on 08/24/2007 7:40:56 AM PDT by george76
Ventus Energy, which is building a new wind farm in West Cape near O'Leary, is trying to negotiate a longer-term share of green credits, but P.E.I. isn't willing to give them up.
There's no market for green credits yet, but when that market becomes a reality it could generate another $10 million a year for the West Cape wind farm.
The province hopes to use green credits to generate revenue from wind energy projects in the same way other provinces get royalties from oil and gas developments. P.E.I. is the only province to claim ownership of the wind in this way.
With no market in green credits yet operating, the former Pat Binns government gave Ventus the green credits from the project for four years.
Ventus is now looking for an extension of that deal to 20 years. Eleven turbines are already operating at West Cape, and the company is pouring concrete for another 44. But it's still not too late for Ventus to move its operation to another province.
Webster said he is not going to give give on revenues that are so important for P.E.I. While other provinces, such as Alberta and Newfoundland and Labrador, make billions from oil and gas revenues, P.E.I. has to find ways to generate revenues from its only energy source: the wind.
(Excerpt) Read more at cbc.ca ...
There you go. Those greedy wind farm owners.
It’s a farm, of course it’s looking for a handout.
New Nation anthem
My Country tis of thee
Sweet land of subsidy.....
To you I whine.
Green Credit = What? So much like air it seems.
Carbon credits ... green credits.
Someone has an energy INefficient home and he pays someone for ... what?
You can be x% energy inefficient and some program translates that into dollars and someone pays ...who?
I don't understand.
I’m not well versed on this credit thing. But, from what I understand say you have a refinery, that hasn’t been updated in say 15 years. And your emmissions are approaching dangerous levels. The refinery could buy another 5 years of grace time from Wind Farm A.
It sounds like the Big Wind Farm Companies, are running low on credits to sell and they need more to pump up the bottom line.
This sounds hopeful to me. I hate those scars on the earth. I wish we would go with solar and some nuke.
And why not? Wind don't grow on trees, y'know!
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