Fortress Agrees to Supply Green Power to Hydro Québec
 Print this article | Send to Colleague
Fortress Paper, Vancouver, B.C., Canada, has signed, through its wholly-owned subsidiary, Fortress Global Cellulose Ltd., an electricity supply agreement with Hydro Québec for the sale of green electricity to be produced at the Fortress Global Cellulose Mill's cogeneration facility upon its restart. The agreement is in connection with Hydro Québec Distribution's Power Purchase Program for electricity derived from forest biomass, which was launched on December 20, 2011.
Under the terms of the agreement, Fortress Global will provide up to 34 MW of green power to Hydro Québec, commencing no later than June 1, 2014, at a price of $106 per MW hour, indexed to the consumer price index over a 25-year term.
Chadwick Wasilenkoff, CEO of Fortress Paper, noted that "the signing of the electricity supply agreement represents a key component in achieving our business plan at the Fortress Global Cellulose Mill, which includes the restart of the cogeneration facility to produce green electricity that in turn will reduce production costs. Generating green energy exemplifies our commitment to sustainable development and we believe that the results of this partnership with Hydro Québec will be beneficial to the environment and the community, as well as to Fortress Paper."
Fortress Paper operates internationally in three distinct business segments: dissolving pulp, specialty papers, and security paper products. The company operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, which is also in the process of expanding into the renewable energy generation sector with the construction of a cogeneration facility. The company is also seeking to expand its dissolving pulp capacity with the recent acquisition of the Fortress Global Cellulose Mill located at Lebel-sur-Quévillon, Québec, which the company intends to convert into a dissolving pulp mill and where it intends to restart the cogeneration facility.
The company operates its specialty papers business at the Dresden Mill in Germany, where it produces specialty non-woven wallpaper base products. Its security paper products are made at the Landqart Mill in Switzerland, where it produces banknote, passport, visa, and other brand protection and security papers, and at its Fortress Optical Facility in Canada, where it manufacturers optically variable thin film material.
|
|
