Canada Underwrites a $6 Billion Loan for Hydroelectric Power In the Maritimes, and More Wind Power Goes On Line in Indiana - Energy Minute for December 6, 2012

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Canada Underwrites a $6 Billion Loan for Hydroelectric Power In the Maritimes, and More Wind Power Goes On Line in Indiana - Energy Minute for December 6, 2012

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Canada underwrites loan for #hydroelectric power http://3bl.me/zghzba more wind power goes online in Indiana #energy
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Thursday, December 6, 2012 - 10:30am

The federal government of Canada is providing a loan guarantee of $6 billion for hydroelectric projects in Labrador, which will cut the cost of that power to residents of Newfoundland and Labrador, and Nova Scotia. The pledge will help underwrite lower funding costs of developing the $7 billion dollar facility, a joint venture of Nalcor Energy and Emera Inc. When in operation by mid-2017, the 824-megawatt plant will generate 4.9 million mega-watt hours annually.

Construction has started on the Wildcat Wind Farm, a 125-turbine, 2,000-megawatt project in Indiana. When operating, 100 megawatts per year will be sold to Indiana Michigan Power for distribution. The project will produce enough energy to power 60,000 American homes for a year. Indiana has a wind resource of 140,000 megawatts, the 15th largest in the country, according to the American Wind Energy Association. The state currently has 11 installed wind projects, with 800 turbines that general 1,300 megawatts.

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Video Sources: Canada Underwrites a $6 Billion Loan for Hydroelectric Power In the Maritimes; More Wind Power Goes Online in Indiana