John Spears, The Star
A wind energy company says it wants $475 million in damages because Ontario’s moratorium on offshore wind farms has thwarted its project. Windstream Energy LLC quietly filed a notice last month of its intent to file a claim under the North American Free Trade Agreement (NAFTA) for lost profit.
Windstream wants to develop a 300-megawatt wind project in eastern Lake Ontario, off Wolfe Island. The company says it’s owned by a New York-based investment group. Its Ontario unit, Windstream Energy Inc., is based in Burlington. The Liberal government slapped a moratorium on all offshore projects in February, 2011, saying further study was needed on their impact on health and the environment. It has given no indication when those studies might be completed.
While dozens of projects were affected, Windstream says its Wolfe Island development is exceptional: Unlike most other projects, it holds a renewable power contract, called a feed-in tariff contract or FIT, from the Ontario Power Authority. Read article