NSP's $93M share of windfarm approved
Nova Scotia’s Power’s role in a controversial wind farm that will be largest in the province when it goes on the grid in 2015 has been approved by the province’s Utility and Review Board.
The South Canoe Wind Project — a joint venture between Nova Scotia Power, Oxford Frozen Foods and Minas Basin Pulp and Power — includes 34 wind turbines between Vaughan and New Russell that are expected to provide 102 megawatts of electricity in the area.
The project's website said that's enough to power about 32,000 homes.
Nova Scotia power has a 49 per cent stake in the project, just over $93 million.
In its ruling the UARB noted there is a risk to ratepayers.
“The major risk is that the net income from NSPI's share of the energy revenue will be insufficient to recover expenses, including depreciation, interest, and return on capital,” wrote the board.
But they determined the utility has taken “reasonable steps” to mitigate the risks.
The wind farm is expected to stretch across almost 3,000 hectares and begin producing power late next year.
The South Canoe project has already received environmental approval and is part of the province's plan to have 40 per cent of power generated from renewable sources by 2020.
Still, the proposed project has divided the community in Chester.
Some residents argue the turbines will decrease their property values.