The US$46.8M investment, designated the Exploits River Hydro Partnership Project, involves the redevelopment of Abitibi-Consolidated's hydroelectric plants at Grand Falls-Windsor and Bishop's Falls in Newfoundland to increase annual energy production by approximately 140GWh.
Construction at the Grand Falls generating station, which includes the installation of a 27MW turbine unit, is expected to be completed by the end of 2003.
Abitibi-Consolidated will continue to use the existing annual generation at its newsprint mill in Grand Falls-Windsor while the additional energy produced will be sold to Newfoundland and Labrador Hydro under a long-term power purchase agreement.
