Province gives $40 million to ArcelorMittal Dofasco energy-saving efforts
http://www.thespec.com/news-story/69...aving-efforts/
ArcelorMittal Dofasco is receiving $40 million in government grants and incentives for energy upgrades that the company says will save enough electricity annually to power 19,000 homes.
The technology being developed uses surplus steam and steam converted from waste gases that when fully operational will generate 170,000 MWh of annual electricity savings, the company says.
Glenn Thibeault, Minister of Energy, was in Hamilton Monday to announce the development, saying, "Our government supports a dynamic and innovative business climate in which companies can reduce electricity costs by implementing a variety of conservation and efficiency measures."
Sean Donnelly, President and CEO of ArcelorMittal Dofasco says the government grants "allowed us to accelerate our plans and move various projects forward in order to lower our demand on Ontario's power grid, keep our business competitive and contribute to the reduction of Canada's greenhouse gas emissions."
The announcement comes at a time when the Wynne Government is under fire for skyrocketing electricity costs across the province.
There are two projects at ArcelorMittal Dofasco receiving provincial support:
• The first initiative – called the Turbo Generator 2 project -- has been in service since April 1 of this year. It's a $15-million upgrade that received a $10-million grant from the provincial fund known as the Industrial Accelerator Program. The company says the project is creating 41 jobs annually and is anticipated to result in 49,000 MWh of annual electricity savings.
• The second initiative – called the Utilities Boiler and Power Generation project – is currently being built to go into operation at the end of 2018. It's a $112-million project that will receive a $30-million incentive from the Independent Electricity System Operator (IESO), which monitors and co-ordinates Ontario's power supply. The project estimated to create 40 jobs annually and is anticipated to result in about 129,000 MWh of annual electricity savings.