Nova Scotia Power plans to invest heavily in green projects in 2010
Nova Scotia Power says it will pump hundreds of millions of dollars into the provincial economy in 2010.
"We are hiring more people, employing more contractors and consultants
and investing more on capital projects," said Mark Savory, vice
president of technical and construction services for Nova Scotia Power.
"A significant component of that investment is related to our plan for
new renewable electricity generation and emissions reductions."
Nova Scotia Power has spent about $150 million on capital projects
annually in the past. In 2009, the company spent more than $270
million. The 2010 capital budget is more than $400 million, with
further capital investment in Nova Scotia anticipated over the next few
Projects currently under way include wind and tidal power development,
improving reliability of the electrical grid, generating electricity
from waste heat and many more.
Nova Scotia Power completed the tidal turbine test project in the Bay
of Fundy in November of last year. This project required the
installation of a 10m in-stream tidal turbine and cost $10 million. One
of the projects currently in the works is the Nuttby Mountain wind farm
set to be completed late in 2010.