Co. explores biomass power despite setbacks
April 15, 2011
By Run of River Power
Apr. 15, 2011 – In late January 2011, Run of River Power announced that its Suskwa and Tsilhqot'in, British Columbia, biomass power generation projects were no longer under consideration in BC Hydro’s Bioenergy Phase 2 Call.
Apr. 15, 2011 – In late January 2011, Run
of River Power announced that its Suskwa and Tsilhqot'in, British Columbia, biomass
power generation projects were no longer under consideration in BC Hydro’s
Bioenergy Phase 2 Call. Due to the considerable uncertainty of a future
Bioenergy Call and award of an Energy Purchase Agreement by BC Hydro, the company
has decided to write down the carrying value of its investment in its biomass projects
of approximately $5.0 million to a nominal value.
“In spite of this considerable uncertainty,
we are continuing to explore options with our First Nations partners to move
these projects forward,” states Rick Hopp, president and CEO of ROR Power.
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