GE Energy Financial Services and Plutonic Power are preparing to acquire British Columbia’s largest wind farm – the Dokie Ridge Wind Project – in early November.
The Dokie Ridge wind farm project will be able to generate 144MW after its first phase of developments, and has rights to expand to 300MW at a later date.
The wind farm, located 1,100km northeast of Vancouver, is currently being developed by EarthFirst Canada and is scheduled for completion in early 2011.
Once complete, the project will produce 340GWh of electricity; enough to power 34,000 homes in a year and annually reduce carbon dioxide emissions, EarthFirst said.
Affiliates of Plutonic Power and GE, GE Energy Financial Services’ parent company, will hold a 51:49 stake in the venture and will own and operate the wind farm.
However, it is estimated that $210.4m will still need to be invested in the project before energy production starts.
In addition to the Dokie project, GE and Plutonic are also collaborating on three hydroelectric projects in British Columbia.