Once fully operational, the facility will generate 11.4MW of power, operating at 5MW originally, and subsequently increasing in capacity.
The entirety of the power generated is reportedly eligible under the Renewable Energy Standard Offer Pricing, at a rate of 11.9 cents per kWh. After the primary facility is operational, Genco plans for a second facility to be commissioned in eastern Ontario.
In order to assist with the commissioning of the first project, the company plans to raise $10 million in private investment money.
Genco said that the company intends to acquire the turbines at a 70% discount. The firm said that its location near the largest concentration of hog-producers in Ontario, as well as having a steady supply of natural gas on site, are factors positively affecting investor interest.
A biomass processing facility will reportedly be added to the power generation module to maximize the profitability and efficiency of the facility by providing other revenue streams.
