GE and Vancouver-based Plutonic Power Corp. last year bought the 144-megawatt Dokie Ridge Wind Project, the first equity investment in wind energy in Canada for both companies.
“British Columbia has tremendous natural resources that are ideal for large-scale renewable energy projects,” Alex Urquhart, who runs the energy finance unit, a division of Fairfield, Connecticut-based General Electric’s GE Capital division, said in a statement today.
GE and Plutonic are considering expanding Dokie to 300 megawatts, the companies said. The project’s first phase should be operational next year and provide enough electricity to power 34,000 homes annually, the companies said.
Plutonic and GE Energy Financial Services also are building a C$660 million ($628 million) run-of-river hydro-electric project on glacier-fed streams about 190 kilometers (118 miles) northwest of Vancouver. The 196-megawatt East Toba River- Montrose development is slated to be completed this year.
So-called run-of-river power projects rely on water diverted from rivers that’s returned to its normal course after spinning turbines.
GE Energy Financial Services has about $23 billion in assets.