Natural Resources Canada

Natural Resources Canada

June 20, 2008 17:10 ET

Natural Resources Canada: Government of Canada Announces $18-Million Investment in Quebec Hydro Project

RIVIERE-SAINT-JEAN, QUEBEC--(Marketwire - June 20, 2008) - The Honourable Gary Lunn, Minister of Natural Resources today announced that the Government of Canada will invest $18 million in Quebec hydro. Centrale hydroelectrique Riviere Magpie will be the first hydroelectric project in Quebec to receive funding under the ecoENERGY for Renewable Power initiative.

"Canada has significant energy resources, and we must manage them carefully to protect our environment and our economy," said Minister Lunn. "That is why our government is committed to working with partners like Hydromega and the MRC de Minganie to increase our supply of clean, renewable energy - helping to ensure we have the energy we need to power our homes and businesses without increasing harmful emissions."

The Magpie hydroplant is situated along the Magpie River, which flows into the St. Lawrence about 150 kilometres east of Sept-Iles on Quebec's North Shore. The low-impact, run-of-river project qualified for the one cent per kilowatt-hour incentive under the ecoENERGY for Renewable Power initiative. The project will generate more than 38 megawatts of clean electricity, enough to power approximately 12,000 homes. Over 10 years, this ecoENERGY program will provide about $18 million to the project and ensure that this renewable energy can be delivered at competitive prices for Canadian consumers.

"The Magpie Power Plant Project required not only the will of a regional community like the MRC de Minganie but also the will of different levels of government. There is no doubt that the financial support from ecoENERGY is one of the key factors in the implementation of the project," said Jacky Cerceau, President of Hydromega.

Businesses, municipalities, institutions and organizations are eligible to apply for funding under ecoENERGY for Renewable Power, announced by the Government in January 2007. The initiative provides $1.48 billion to increase Canada's supply of clean electricity from renewable sources such as wind, biomass, low-impact hydro, geothermal, solar photovoltaic and ocean energy. It will encourage the production of up to 4,000 megawatts of new electricity from renewable energy sources - enough electricity to power about one million homes.

The Magpie hydroplant is a joint venture between Hydromega (70%) and the MRC de Minganie (30%). Hydromega is an independent, Quebec-based producer of renewable energy that operates several hydroelectric facilities in the province and is also planning to develop wind energy projects.

FOR BROADCAST USE:

The Honourable Gary Lunn, Minister of Natural Resources, today announced that the Government of Canada will invest $18 million in Quebec hydro. Centrale hydroelectrique Riviere Magpie will be the first hydroelectric project in Quebec to receive funding under the ecoENERGY for Renewable Power initiative.

NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.

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