Wind power exec confirms: contracts to miss key performance date
The top executive for Gilead Power, the firm that was seeking to develop Ostrander Point in Prince Edward County into a wind power generation project, confirms what Wind Concerns Ontario has known for some time: there are projects in Ontario that are approaching, or have even passed, their key contract date to be supplying power to the grid.
The Wynne government has the option of now cancelling these contracts.
In an interview with the Picton Gazette, interim Gilead president Dan Hardie said the company is now “in limbo” with the decision by the Environmental Review Tribunal going against the project, and the “drop-dead” date approaching. (Actually, Wind Concerns Ontario’s information is that the key contract date was May 12, 2016.)
“We were supposed to be up and running by a certain date this year,” Hardie told the Gazette. “We are running out of time and that’s due to the Blanding [sic] turtle problem that we had.”
Asked if the ERT decision could mean the end of the company, Hardie replied, “Probably.”
According to WCO information, the cost to the government of getting out of the Ostrander Point contract would be $420,000 at most to terminate.
FIT Contract status: estimated from FIT contract source documents
|Project||20 Year Cost||Termination Cost (Max)||Status/ Estimated
Key Contract Dates
|Nigig/Henley Inlet, Parry Sound||$2,057 M||$1.0 M||Pre-submission – Default Date = Sep 24, 2015|
|Trout Creek, Parry Sound||$68.6 M||$420,000||Default Date = Nov 6, 2015|
|Fairview, Clearview||$126.2 M||$436,000||Default Date = Nov 6, 2015|
|Skyway 126, Grey Highlands||$68.6 M||$420,000||Default Date = Nov 6, 2015|
|Ostrander Point, Prince Edward||$154.3 M||$448,000||ERT – 24 months of Force Majeure = May 12, 2016|
|$411.5 M||$520,000||ERT – Default Date = 57 days after favourable ERT|
|Amherst Island, Loyalist||$514.4 M||$550,000||ERT – Default Date = 18 days after favourable ERT|
|Settlers Landing, Kawartha Lakes||$68.6 M||$420,000||Remedy ERT – Default Date = May 6, 2016|
|Majestic, Kincardine||$13.7 M||$408,000||Default Date – May 11, 2016|
|Meyer, Kincardine||$27.4 M||$404,000||Default Date – Jun 17, 2016|
|Total||$3.5 B||$5.0 M|