Wabagishik Rapids, Vermilion River – Photo by Aleta Karstad
Given your past interest in one or more of our projects we wish to advise that Xeneca Power Development is proceeding through a restructuring process brought about by significantly extended development timelines, increased regulatory requirements and exposure to rapidly escalating environmental, permitting, development and civil costs. Due to the above noted delays and costs that were not contemplated in Feed-in-Tariff (FIT) pricing and contract timelines, project economic viability has, in some cases, been driven into a negative position, and, as such, it is expected that some FIT contracts will be cancelled in order that those projects can be bid into Ontario’s upcoming Large Renewable Procurement (LRP) program.