Canadian provincial governments have been making a big push to help wind energy flourish. The most recent example comes out of Ontario which just signed contracts to build six large wind farms. The farms will provide nearly 500 more megawatts to for the province.
While this is great news for the wind energy industry the sector is still looking for more assistance from next week’s federal budget.
This recent push into wind power started last year when Quebec approved $5.5 billion in wind power projects in the province. Enough to provide 2,000 megawatts by 2015.
Then it was Manitoba Hydro’s turn as they signed a deal to buy power from a 300 megawatt wind farm (the largest in Canada) for the next 25 years.
Beautiful British Columbia will be next since they are expected to approve as much as 1,000 megawatts worth of renewable energy contracts in the spring, much of which will be provided by wind farms.
This has proved invaluable to the wind power industry since securing such long-term contracts since it allows the companies to ease investor’s fears by providing the security of guaranteed income over an extended period.