Innovente to build biomass-to-energy plant in Quebec
Sep 26, 2012 - Canadian biomass-to-energy firm Innovente Inc (CVE:IGE) said Tuesday it would build a biomass-fired combined heat and power plant in Trois-Rivieres, Quebec, after signing a 25-year deal to produce 8.8 MW of clean electricity for Canadian utility Hydro-Quebec.
The Trois-Rivieres plant will be Innovente's second facility, after the St-Patrice-de-Beaurivage plant in the Chaudiere-Appalaches region.
The total investment in the Trois-Rivieres plant will be between CAD 30 million (USD 31m/EUR 24m) and CAD 35 million. A total 40 new jobs will be created at the plant upon its completion in early 2015. The construction phase, which will start in the autumn of 2013, will create some 100 jobs.
Under the terms of the contract, valued at CAD-255-million, Hydro-Quebec will pay CAD 0.106 per kWh for the electricity generated at the Trois-Rivieres plant.
The new plant will be fuelled by forest and pulp-and-paper residues and is expected to generate enough electricity to cover the needs of 10,000 people.