Renewable energy

Renewable energy is generally defined as energy that is collected from resources which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.

Based on REN21's 2014 report, renewables contributed 19 percent to humans' global energy consumption and 22 percent to their generation of electricity in 2012 and 2013, respectively. This energy consumption is divided as 9% coming from traditional biomass, 4.2% as heat energy (non-biomass), 3.8% hydro electricity and 2% is electricity from wind, solar, geothermal, and biomass. Worldwide investments in renewable technologies amounted to more than US$214 billion in 2013, with countries like China and the United States heavily investing in wind, hydro, solar and biofuels.

Power Corporation of Canada

Power Corporation of Canada is a diversified international management and Canadian holding company. Through its subsidiary, Power Financial Corporation, it has interests in companies in the financial services sector in Canada, the United States and Europe. Through its subsidiary, Square Victoria Communications Group, it holds interest in companies from the communications and media sector. Power Corporation also holds and actively manages a portfolio of investments in the United States, Europe and Asia. The company manages assets of $1.22 trillion.

The corporation is known for its active participation in Canadian politics through its relationships and the relationships of the Desmarais family with prominent politicians of all political stripes.

History

Power Corporation of Canada was formed in 1925 by stockbrokers Arthur J. Nesbitt and his partner Peter A. T. Thompson. Nesbitt served as the company's first president. Power Corporation was created as a holding company to manage their substantial investments in public utility companies involved in the electrical power industry in Quebec's Eastern Townships plus in the other Canadian Provinces of Ontario, Manitoba, New Brunswick and British Columbia. In the latter part of the 1930s, the company acquired a controlling interest in Bathurst Pulp and Paper Company Ltd. and in 1938, Canadian Oil Companies Ltd., selling the latter to Shell Oil Company in 1962.

Renewable Power Corp.

Renewable Power Corp. is a privately owned company based in Gibsons, British Columbia, which was established in 2000. Marc Soprovich (President) and Peter Schober (Senior Engineer) are listed as the firm’s co-owners.

Projects Controlled by Renewable Power Corp.

Renewable Power bid a project into each of BC Hydro's 2001, 2006 and 2008 Power Calls and received a Power Purchase Agreement on each occasion.

Operational Projects

Tyson Creek Hydro (9MW, 53GWh/yr)
In BC Hydro’s 2006 Open Call for Power, Renewable Power was granted a 40-year power purchase agreement for a 9MW facility at Tyson Creek. Capital costs were $40m with $34.6m of debt financing provided by CorpFinance International (which was also an equity investor). Construction began in 2007 and was completed in December 2009.
The site features a natural 875 meter drop, which will give it the highest head of any run of river plant in North America, enabling it to efficiently generate energy year round. The project’s high head allows it to operate at capacity from 70-80% of the time, versus the norm of 40- 60%. Renewable Power claims that this is the highest capacity factor (average megawatts delivered versus total ability of the plant) of any hydro project built to date.