Canadian Wind Farm Sale Delayed
NEW YORK (AP) ¿ GE Energy Financial Services and Plutonic Power Corp. said Tuesday they need more time to decide whether to buy the Dokie Ridge Wind Project, the largest wind farm under construction in British Columbia.
The companies said in a joint statement that they've requested an extension of a deadline for reviewing the proposed sale. The previous deadline was Aug. 5. The companies now want the deadline pushed back to Sept. 4.
"While significant positive progress continues to be made in addressing key matters, the partners require additional time to complete the remaining due-diligence and required contract negotiations," the companies said in a joint statement.
EarthFirst Canada Inc. currently owns the wind farm. Construction is expected this fall and should be completed in late 2010. It is expected to be 144 megawatts in size, but the wind farm could be expanded to a total of 300 megawatts ¿ enough to power 34,000 homes.Plutonic Power spokeswoman Elisha McCallum said the companies haven't settled on a sales price.
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