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Posts Tagged ‘Ontario FIT’

Important Protest against wind power subsidy by Ontario Citizens

April 3

The Ontario Feed In Tariff or FIT program has been responsible for unbridled industrial wind power development throughout Ontario. The results? Huge profits for wind power developers. And unreliable, inefficient and expensive wind power that Ontario doesn’t need, despoiled rural communities, dropping property values, diminished tourism potential and worst of all, serious health effects for some people in Ontario.

 

Now, the Wind Industry Barons are blowing into Toronto for the Ontario Feed In Tariff Forum April 3 & 4th  at the Metro Convention Centre, 255 Front Street West.

 

ONTARIO CITIZENS WILL BE ON THE STREET TO TELL THEM FIT IS A “BAD FIT”
FOR ONTARIO!!!!!!!!!!!!!

 

Protest Date Tuesday, April 3rd

Time – gather at 11:30

Speakers – 12:00

Protest March 12:30

Place – Simcoe Park on Front Street, beside CBC building and opposite Metro Toronto Convention Centre

 

It is time to stand up for Ontario!

 People are coming from all parts of the province. Bring signs to identify where you are from. 

 

Arrange a bus or use public transit, subways, GO trains to Union Station.  See you there.

Directions: From the main lobby of Union Station (look for signs to railway and GOTrain station to get to main lobby), exit at Front Street, go west (left) on Front St. past York St. and Lower Simcoe St.  Simcoe Park is about 300 meters further west right next to the CBC building on the north side of Front St. 

For more details, check the Wind Concerns Ontario website at http://www.windconcernsontario.ca

Email us at northgowerwindactiongroup@yahoo.ca

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Companies you never heard of are coming to Ontario to take advantage of the fact that the Ontario government is handing out money in baskets for wind and solar projects. Jobs, jobs, jobs? New “green” economy? Not for us: all the profits will be going to companies not based in Ontario.

Here’s a story about one: Fortress Energy based in Calgary is selling off its oil and natural gas assets to come to Ontario, and purchase smaller wind projects that are already assembled, i.e. options and leases have been signed with property owners.

http://af.reuters.com/article/energyOilNews/idAFL3E7DI1TL20110218

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UPDATE 1-Fortress Energy to become clean power producer

Fri Feb 18, 2011 8:04pm GMT

* Says to focus on renewable energy

* Says identified 10 FIT-eligible projects

* Shares up 12 pct (Adds details)

Feb 18 (Reuters) – Fortress Energy Inc said it plans to convert itself from an oil and gas producer, to an independent producer of clean power, sending its shares up 12 percent.

Fortress, which has been reviewing strategic alternatives since last year, plans to focus on renewable energy and low emissions gas-fired facilities in regions with growing demand for power where government-backed power purchase agreements are available.

In September, the company closed the sale of most of its oil and gas assets to Terra Energy Corp , including the Square Creek assets in Western Canada, for about C$34.6 million ($35.1 million) in a cash-and-stock deal.

Fortress hopes to benefit from the Ontario government’s 20-year energy plan which it unveiled in 2007, promoting the use of natural gas and renewable powers and replacing the use of coal fired generation by 2014.

The Ontario Power Authority introduced the feed-in-tariff (FIT) program in 2009 to encourage power developers to invest in clean energy facilities.

Fortress has identified 10 such projects with power capacity of about 500 megawatts, which it is reviewing for acquisition, it said in a statement.

Shares of the Calgary, Alberta-based company were up 12 percent at 14.5 Canadian cents Friday late afternoon on the Toronto Stock Exchange. ($1 = 0.985 Canadian Dollars) (Reporting by Gowri Jayakumar)

© Thomson Reuters 2011

northgowerwindactiongroup@yahoo.ca

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