The Department of Environment, Energy and Forestry announced today that the province would be waiting until the new year to invite developers to bring forward proposals for development of energy projects using the Island’s wind resources.

On October 17, government announced plans to work with developers in order to bring wind energy in this province up to a total of 500 megawatts. A recent sharp drop in energy prices and increases in the cost of borrowing have prompted government to postpone the request for proposals until some of the economic turmoil passes.

Current global economic conditions would make it difficult for developers and for the Island community to put together favourable wind power development arrangements.

In the coming months, the provincial government will be continuing to work on legislation and regulations related to wind development. Government will also use the coming months to continue work on a project to develop a new high-capacity power cable to the mainland.

Until the provincial government decides to proceed with the RFP process, it will not be receiving proposals for wind development aimed at the export market.