2009 is certainly shaping up to be a pivotal year for our industry with renewable energy as the hot topic in our province and beyond. In the United States, the Obama administration has done a complete 360 from their predecessor with a new energy policy that moves alternative energy into the forefront of an economic stimulus plan that aims to spend $150 billion over the next 10 years to develop alternative energy. Here in British Columbia, the hope is to continue this trend and move forward in addressing our growing energy needs with green, renewable energy solutions that leave a positive legacy for future generations. This idea cannot be put more succinctly than through internationally renowned environmental leader David Suzuki, “If we want to put the brakes on global warming and reduce our reliance on non renewable fossil fuels, we must look to renewable energy such as solar, wind, hydro, and sustainable bioenergy. Given what the world’s leading climate change scientists are saying about the consequences of continuing to burn fossil fuels, we have little time to lose.” This issue will focus on the topic of green energy in addition to company updates. I look forward to any feedback, questions or story ideas you may have to enhance our publication.
Sincerely,
Robert Fraser
President and Chief Executive Officer
Green Energy: Meeting Our Future Energy Needs
The Stats:
According to BC Hydro, the demand for energy in our province is forecast to increase between twenty-five percent (25%) and forty-five percent (45%) over the next twenty years. Currently, there is a shortage of electricity to meet demand in British Columbia. As a result, the province is importing between ten percent (10%) and fifteen percent (15%) of its electrical power from Alberta and the United States, some of which comes from coal and natural gas. The province is looking to combat these startling statistics by having independent power producers develop green power projects domestically, and thus reduce British Columbia’s reliance on imported electricity.
Green Energy
The phrase Green Energy is heard a lot these days, but how many people know exactly what it means? Green energy is used to describe sources of energy that are considered to be environmentally friendly and non-polluting, such as geothermal, wind, solar, and hydro. Although controversial, many consider nuclear power to be a green energy source. Green energy sources are considered “green” because they lower carbon emissions and create less pollution. Green power simply refers to power that is generated from the sources above as opposed to power that is generated from traditional “brown” or non-renewable sources, such as oil, coal and natural gas. A “Green Power” project is environmentally friendly in that its design allows for a minimal impact on the water, land, air and wildlife.
Hydropower is one of the most environmentally friendly, low impact and commercially viable sources of electricity generation available. As you can see by clicking on the scorecard on comparable energy technologies and their impacts on the environment, run-of-river storage hydro scores among the lowest of any form of electricity generation. According to Syntaris Power’s Vice President of Corporate Communications and Public Affairs, Kevin Boothroyd, “Hydroelectric or so-called run-of-river projects are important to the future of British Columbia because they offer an opportunity to increase power production while simultaneously reducing the impacts that come from other, less environmentally friendly forms of power generation.”
Project Update
Kinskuch River
Culliton Creek
Maselpanik Creek
We look We look We look We look We look We look forward with anticipation and excitement over the summer as BC Hydro makes its final decisions on the green energy submissions that were received in response to the 2008 Clean Power Call for Tender. Syntaris Power, in partnership with HydroMax Energy Ltd. (“HydroMax”), an indirect wholly-owned subsidiary of ENMAX Corporation, submitted three projects into the Call for Power, representing a total estimated capacity of approximately 104 Megawatts of electricity. The projects include:
• The 76 MW Kinskuch River Project, located 140 km north of Terrace, learn more
• The 15 MW Culliton Creek Project, located near Squamish, learn more
• The 13 MW Maselpanik Creek Project, located 51 km east of Chilliwack and 35 km south of Hope, learn more
In these turbulent times, with unemployment on the rise, these projects can also bring the potential for substantial socio-economic benefits and stability to local communities and First Nations. “The time is now to come up with innovative, long term solutions that will bolster communities throughout BC.” says Robert Fraser, Syntaris Power’s President and Chief Executive Officer. “By diversifying our energy sources, we are helping ensure the safety and security of BC’s power grid and meeting our province’s future energy needs,” adds Fraser.
Enhanced Website
With growing interest in our proposed projects and company overall, Syntaris Power has enhanced the corporate website substantially over the past few months:
-Current and prospective investors have an investor page dedicated to their needs and interest, with corporate investor info here
-Visitors can find an interactive project video that features the company’s core renewable energy projects proposed for the BC Hydro Clean Call for Power.
-Our new Resources Page contains all the website tools, including a new FAQ, project photo gallery along with industry links and third party reports.
-The Media Page is also re-vamped as the go-to place for industry news and corporate communication materials.
Staff News
In early June, Syntaris Vice President of Project Development Mike Wise was elected to the Board of Directors of the Independent Power Producers of British Columbia (IPPBC), 1 of 4 new Directors from a slate of 11 candidates. The IPPBC Board oversees all aspects of the strategy and operations of the Association, and manages the finances. Mike’s election to the IPPBC Board will provide a voice for Syntaris on a multitude of issues that affect both the company and the industry.
Upcoming Events
Syntaris is gearing up for the 7th Annual IPPBC Conference. This year’s conference theme is “Powering the Green Economy” and is being held November 1-3 at the Hyatt hotel in Vancouver.
Syntaris staff speaking with conference attendees at the 6th Annual BC Power Summit, March 2009
Feedback?
We welcome your feedback on our Newsletter. To comment on an article or provide a story idea for the next issue, please contact: news@syntaris.com