Power Purchase Agreement, Timing and Capital Costs
On September 18, 2006, TransCanada issued a press release announcing that Portlands Energy Centre L.P. had signed a 20-year Accelerated Clean Energy Supply (ACES) contract with the Ontario Power Authority for the power output of the PEC.
The plant started delivering 340 MW of power to the City of Toronto in June 2008 in single-cycle operation and was fully operational with an output of 550 MW by the second-quarter 2009. Total capital costs are expected to reach $730MM.
Read more about this topic: Portlands Energy Centre
Famous quotes containing the words power, purchase, timing, capital and/or costs:
“Love prays. It makes covenants with Eternal Power in behalf of this dear mate.”
—Ralph Waldo Emerson (1803–1882)
“How happy a thing were a wedding,
And a bedding,
If a man might purchase a wife
For a twelvemonth and a day;”
—Thomas Flatman (1637–1688)
“A great man always considers the timing before he acts.”
—Chinese proverb.
“The capital is become an overgrown monster; which like a dropsical head, will in time leave the body and extremities without nourishment and support.”
—Tobias Smollett (1721–1771)
“It costs you something to do good!”
—Zora Neale Hurston (1891–1960)