The City of Thunder Bay is about to get into the solar business in a big way.
City councillors will be asked Monday for final ratification of an agreement that allows Thunder Bay Hydro to be the exclusive solar photovoltaic developer to the city. An assessment of potential city-owned buildings has just wrapped up and it is expected that the investment could top $14 million.
The Provincial Green Energy Act was designed to spur renewable energy investment and a strategic alliance between the city and Thunder Bay Hydro will do just that. The city-owned utility is looking at installing medium-sized commercial solar installations on city-owned buildings. Thunder Bay Hydro President, Rob Mace saidthe utility has looked at a number of sites
Mace said the Province's Feed In Tariff program makes it economical for the utility to move ahead. Mace said Thunder Bay Hydro will invest $14 million in solar installations.
Moving ahead with solar generation aligns with the City's clean, green and beautiful policy. But it won't mean energy savings for the City as the power generated will be fed back onto the grid. However, the initiative will mean a new source of revenue as Hydro's sole shareholder. City Manager Tim Commisso said at this point it's too early to firm up a dollar figure.
A dividend policy for the distribution of net proceeds from solar installation to the City will be developed and presented to council for approval in April 2012. Commisso said that timeline will allow for the co-generation plant at the landfill to come online that will also provide a monetary return to the City
