Major Projects Help Build B.C.'s Clean Energy Sector
VICTORIA – A record number of major construction projects are proposed in British Columbia, and nine of the 10 top-valued projects focus on clean energy, announced Iain Black, Minister of Small Business, Technology and Economic Development.
The latest Major Projects Inventory shows the number of proposed major construction projects has risen to a record high of 516. The value of the projects planned or underway is $187 billion, near the all-time high of $189 billion.
“This latest survey shows that investors are highly confident in British Columbia’s future, and are clearly embracing the drive towards a new, greener economy,” said Black. “It’s significant that so many of the largest projects proposed involve renewable energy, an area where British Columbia is a world leader.”
Among the clean energy projects planned or underway across the province are the $1.2-billion Rocky Creek Wind Energy Project, the $900-million Machmell River Hydropower Project in Campbell River and the $222-million Upper Lillooet River Hydroelectric Project.
Since 2005, the number of projects has risen by 128 per cent in the Cariboo, by 95 per cent in the Northeast, and by 63 per cent in both the Thompson/Okanagan and Nechako regions.
According to the Major Projects Inventory, between October and December 2009:
- 882 major capital projects, worth about $187.1 billion, were planned or underway across B.C. The number of projects has nearly tripled since 2001 and their value has more than quadrupled.
- 20 major projects started construction, with an estimated value of $870 million. The largest of these was the $200-million Channel Ridge Village on Salt Spring Island.
- The capital cost of all major projects under construction in B.C. was estimated at $60.7 billion.
- 33 major projects were completed, with an estimated capital cost of about $4.1 billion, including the $1-billion Vancouver Olympic Village.
- 516 projects were proposed – the highest level recorded. Top-valued proposed projects this quarter include:
- Rocky Creek Wind Energy Project in Tumbler Ridge – $1.2 billion
- Machmell River Hydropower Project in Campbell River – $900 million
- Metro Vancouver Waste-to-Energy Incineration Facility – $500 million
- Upper Lillooet River Hydroelectric Project in Pemberton – $222 million
- Bronson Slope Hydropower Project in the Stewart Region – $216 million
- Tzoonie River Hydropower Project in Sechelt – $186 million
- Lower Wood River Hydropower Project in Mica – $144 million
- Hurley River Hydroelectric Project in Pemberton – $138 million
- Gun Creek Hydroelectric Project in Pemberton – $108 million
Published quarterly by the Ministry of Small Business, Technology and Economic Development, the Major Projects Inventory lists all major projects that are proposed, planned or underway in British Columbia. These are projects with a capital cost of at least $20 million within the Lower Mainland and projects valued at $15 million or more in the rest of B.C.
The December edition of the Major Projects Inventory is available online at www.gov.bc.ca/sted.
