January 15, 2007

Nfld Hydro awards second wind energy contract

Newfoundland and Labrador Hydro (NLH) has awarded Vector Wind Energy a contract to provide 24 megawatts (MW) of wind power to the island from its Fermeuse wind project. "This award will mean almost 50MW of cost-effective, clean, wind energy on the island by 2009," said NLH president and CEO Ed Martin.

This will be Newfoundland's second wind farm: combined with the St Lawrence wind project, announced in early October, the two projects will offset almost 300,000 barrels of oil annually and result in a significant reduction in greenhouse gas emissions.

The new project will involve the installation of 12 two-megawatt wind turbines near the community of Fermeuse, on the southern shore of the Avalon Peninsula. Energy from the Fermeuse wind project has the potential to offset over 130,000 barrels of fuel burned annually to generate power at the Holyrood generating station.

NLH will retain any emissions credits from the project and also has the option to take over the operation at various points through the 20-year contract. The next step will be to conclude the power purchase agreement with Vector; this is expected to take about six weeks.

Newfoundland's power system, which is isolated from the North American grid, has a generating capacity of 1,919 MW, approximately 65% coming from hydroelectric sources and 35% from fossil fuels. NLH (Web site www.nlh.nl.ca) is Canada's fourth largest power utility, with over 7,000MW of operating capacity.

Vector Wind Energy, based in Ottawa, has 20 active prospect areas for wind energy projects, primarily in Manitoba and Ontario, at various stages of development. These prospects have the potential to support more than 1,000 MW of wind energy capacity. More information is available on Vector's Web site, www.vectorwindenergy.com.

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