March 23, 2011
For immediate release
Wind energy profits more than $3 million for 2010
Environment, Energy & Forestry
Publicly owned wind farms operated by the Prince Edward Island Energy Corporation recorded $3.5 million in wind energy profits for 2010, says Environment, Energy and Forestry Minister Richard Brown.
The provincial crown corporation was also able to reduce the debt owing on its wind farms by $10 million, said the Minister.
“The wind industry continues to grow on PEI with $40 million in electricity sales in 2010 from public and private farms,” said Mr. Brown. “Recognizing the value of this industry, we intend to commission an additional 30 megawatts of publicly owned wind power, making PEI a world leader utilizing wind power for domestic use.”
During the PEI Energy Corporation’s meeting to approve its 2009-2010 annual report, it was noted that this past December marked the highest month of wind production at the Corporation’s East Point Wind Farm. The wind farm had experienced operational difficulties in the past, but in 2010 it exceeded expectations as one of the windiest locations in the province.
The PEI Energy Corporation’s profits will be re-invested into further wind energy development as well as the Office of Energy Efficiency, said Mr. Brown.
“We continue to be impressed with the amount of wind energy we are able to generate on Prince Edward Island,” said Mr. Brown. “Wind power provides almost 20 per cent of our energy needs. It is a source of clean, renewable energy that is reducing our dependence on fossil fuels and we are committed to increasing our wind capacity for more domestic consumption.”
Wind power also provides Maritime Electric with reasonably priced electricity. During the last power outage, the company was able to use 30 mw of power from the East Point Wind Farm to restore electricity, rather than relying on more expensive power from its oil-fired generating plant.
The PEI Energy Corporation operates wind farms at East Point and North Cape, which is Atlantic Canada’s first commercial wind facility. Copies of the 2009-2010 annual report are available at Island Information Service and online at PEIEC Annual Report 2009-2010.