By KELLY LOUISEIZE
Northern Ontario Business
Before government announcements were made supporting renewable energy projects, John Douglas, former investment banker turned entrepreneur and now CEO of Toronto-based Ventus Energy had been visiting parts of northwestern Ontario working on the development of four wind-energy projects with various partners.
Although Douglas is unable to disclose the names of the partners or the locations of the potential wind developments due to confidentiality agreements, he says this is an exciting time for renewable resource developers in the province.
“We think, at the end of the day, there will be about 50 to 60 wind projects in Ontario alone in the next five years,” Douglas says, although not all will be 100-megawatt (MW) wind power projects.
Currently the Ontario government is seeking Requests For Proposals (RFPs) to establish 300 MW of renewable energy capacity as soon as possible, with an expected 500 MW more to follow, Douglas adds.
Already Ventus has signed an agreement with Pays Plat First Nation to experiment with wind energy development along the northwestern shores of Lake Superior and three other project in the same region will be explored over the next 12 months.
“We have just scratched the surface of the potential,” Douglas explains. “I see no reason why we cannot have a few hundred megawatts of wind power in the North.”
Ventus has also acquired an island off Georgian Bay that could easily provide another 100 MW of wind power.
Douglas selects locations that are right on or close to transmission grids so the connection costs remain affordable. That is one of the significant factors in developing wind power. This in turn has attracted utility companies like Thunder Bay Hydro looking for alternative energy sources.
If the projects prove to be successful, Douglas will open a subsidiary office in Thunder Bay.
