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Credit crunch stalls P.E.I. call for wind power

Thanks to current “economic conditions,” Prince Edward Island has opted to put off its request for proposals (RFP) for wind power development until April 1, 2009.

The current conditions for securing financing “would make it difficult for developers and for the Island community to put together favourable wind power development arrangements,” the province said in a release Monday.

That, coupled with a recent sharp drop in energy prices, has prompted the province to put off its RFP “until some of the economic turmoil passes.”

Thus the province said it will wait until the new year to invite developers to bring forward proposals for development of wind energy projects on the Island.

That said, the province plans to keep working on legislation related to wind development and “will also use the coming months to continue work on a project to develop a new high-capacity power cable to the mainland.”

Until the province decides to proceed with the RFP process, it will not receive proposals for wind development aimed at the export market, the environment and energy department said in its release.

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