Brascan Corporation of Canada has announced that an affiliated company, Great Lakes Power (GLP), is planning to proceed with the High Falls hydro power project on the Michipicoten river near Wawa in northern Ontario.
The C$75M (US$50M) project includes two turbines with a total capacity of 45MW, capable of producing 70% of its power output during peak demand periods. High Falls project is one of nine power projects being considered by GLP for further development. GLP intends to proceed with the acquisition or development of at least five of these projects within the next 12 months under the group’s multi-billion dollar investment programme to expand its production base.