Given the pipeline of projects, 2015 could end up being remembered as the year of public private partnerships – the so-called P3s.
Short lists are being completed for large and expensive projects in many provinces. There’s $8 billion up for grabs in Toronto via the Eglinton-Crosstown light rapid transit; potentially $5 billion that’s set to be awarded for the construction of a new Champlain Bridge in Montreal and another $2 billion for an LRT system in Edmonton.
As well, some projects will come from provinces relatively new to the world of P3s.
New Jersey-based Nautilus Solar Energy LLC, which defines itself as “a leading full service energy solutions provider,” is expected to announce that it has closed a US$39 million non-recourse construction and term facility with Rabobank on Friday.
Canadian heavy crude traded below US$40 a barrel for the first time in five years just as surge of new projects are scheduled to start operation.
A total of 14 new oilsands projects are scheduled to start next year with a combined capacity of 266,240 barrels a day, according to data published by Oilsands Review. That’s 36 per cent more than was started in 2014.
With an enterprise value of at least $500-million, the Grand Renewable Solar Project has already made a little history: The Ontario-based project which is being developed as a three-way partnership between Samsung Renewable Energy, Connor Clark & Lunn Infrastructure and Six Nations is the largest solar project developed in Canada and one of the largest in North America.
CALGARY — Statoil has put its Corner oil sands project on hold for at least three years as it grapples with rising costs.
The decision means about 70 jobs will be cut, the Norwegian energy firm said Thursday.
In a statement on its website, Statoil said improvements have been made to the project, but it has decided not to go any further at this stage.
“Costs for labour and materials have continued to rise in recent years and are working against the economics of new projects,” said Statoil Canada country manager Stale Tungesvik.
Even people with demanding and fulfilling professional lives can have a passion project waiting for them at home that they're dying to finish. As proof, look no further than Tesla CEO Elon Musk, who in his spare time runs the space flight company SpaceX, or Box CEO Aaron Levie, who has become an accomplished magician.
The challenge was created to fund brilliant social enterprises from across the South West. Social enterprises launched their crowdfunding campaigns on Crowdfunder and those with the most pledges for their great ideas battled it out on the leader board over 28 days to make it to the top six.
Temex Resources Corp V.TME announced April 29 an updated 43-101 resource estimate of its Juby Gold Project located in Ontario’s Timmins-Kirkland Lake mining camp. At a cutoff of 0.4 grams per tonne gold, it contains 25.3 million tonnes grading 1.28 g/t gold for 1.04 million gold ounces indicated and 74.2 million tonnes grading 0.91 g/t for 2.17 million gold ounces inferred.
HALIFAX — A wind power project on Sable Island off Nova Scotia is over budget and remains at a standstill more than a decade after the federal government launched the initiative.
Environment Canada began a pilot project in 2000 that was supposed to see five wind turbines generate energy onto the grid of the crescent-shaped sandbar known for its wild horses, sand dunes and fragile environment.