Undoubtedly, there will be plenty of hype and posturing about the hydro-electric assets in which AbitibiBowater has an interest.
There's already been plenty of silly talk about "repatriating" assets. Had successive governments not interfered in the operation of the mill it might have been re-organized and saved. As it is, the closure of this mill is a mess created by all the players. None can escape responsibility.
Expect NL Hydro to purchase these assets from the private sector partners, one of which is Fortis, with the power being sold to Vale Inco.
In any event, here is a brief description of the assets.
1. Exploits River Hydro Partnership. Partnership between Central Newfoundland Energy - a Fortis subsidiary - and AbitibiBowater. 30 megawatts. Initial operational capacity (IOC): November 2003. Supplied power to AbitibiBowater operation at Grand Falls-Windsor with surplus power sold to Newfoundland and Labrador Hydro under a long-term power purchase agreement.
2. Star Lake Hydro Partnership. Partnership between CHI Canada Limited and AbitibiBowater. 18 megawatts. IOC: October 1998. Star Lake displaces oil-fired generation at NL Hydro's Holyrood plant.
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