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ECONOMIC DEVELOPMENT |
REVELSTOKE COMMUNITY |
 Green Municipal Investment Fund Invests $2.7 Million in Revelstoke’s Community Energy Project June 17, 2004, Revelstoke, BC – The City of Revelstoke’s Community Energy Project will benefit from a Green Municipal Investment Fund (GMIF) grant and loan combination of approximately $2.7 million. The announcement was made today by Revelstoke Mayor Mark McKee and Kamloops Councillor Patricia Wallace, representing the Board of Directors of the Federation of Canadian Municipalities (FCM). With this announcement the wood residue fired $5.3M biomass energy project of Revelstoke Community Energy Corp (RCEC) to heat Downie St. Sawmill’s dry kilns and a number of buildings on a Community Energy System [CES] can proceed. “This project is another example of Revelstoke’s forward thinking entrepreneurial spirit,” said Mayor Mark McKee. “The project will give rise to other opportunities for Downie and for extension of the CES to other parts of the City, especially as anticipated increases in the costs of other energy sources make the CES increasingly attractive. City Council is establishing a RCEC Board of Directors and has advertised a call for citizens interested in serving on the Board.” “Twenty year energy supply agreements have been signed with Downie and the school district, as well as a 20 year fuel supply agreement with Downie,” continued Mayor McKee. “Now that financing is in place and the bids on the pipe and boiler have been received, the project is close enough to budget to give City Council and the RCEC the confidence needed to give the “go ahead”.” Along with 50 per cent GMIF project funding from FCM’s Green Municipal Funds, Revelstoke Community Forest Corporation another Revelstoke success story has made a $1.25M capital investment. The balance of funding is coming from the Revelstoke Credit Union and the City’s Electrical Utility Reserve Fund, as preferred shares. The Government of Canada has endowed $250 million to the Federation of Canadian Municipalities to establish and manage the Green Municipal Funds. The Funds support partnerships and leveraging of both public and private sector funding to reach higher standards of air, water and soil quality, and climate protection. “I am pleased that the Federation of Canadian Municipalities is supporting this project through the Green Municipal Funds,” said Kamloop’s Councillor Patricia Wallace, representing FCM. “It will lay out an important roadmap with lessons learned for other forestry-based communities across the country that may want to replicate Revelstoke’s experience.” To date, GMIF has leveraged over $1 billion in investment through an outlay of $118 million in loans and $20 million in grants in 47 capital projects. Along with setting a new standard in maximizing the environmental, social and economic benefits of sustainability, through its development of innovative project financing, GMIF is spurring the market for new environmental technologies in Canada. The plant will be constructed on a 1/2-acre site across from the dry kilns. The property is being donated to the City’s project by Downie St. Sawmills. Once detailed drawings for the plant are received, a contract will be let for construction of the building, which will be ready to receive the boiler for installation in November 2004. The plant is due to be in operation as of the end of January but the relatively late start may move that to February. The plant has been designed so that incremental boiler capacity can be added as needed. It is estimated that the project will result in a net 40 to 60 per cent process efficiency improvement (in energy capture, transmission and delivery), primarily because of utilizing a state-of-the-art biomass combustor, renewable and locally sourced fuel, as well as offsetting energy transmission/transport losses. It is also estimated that the project will result in greenhouse gas (GHG) reductions of over 4,000 metric tonnes per year from propane offsets, and reductions in nitrogen oxide (NOX), sulphuric oxide (SOX) and particulate matter (PM). Larry Marchand of Paragon Project Management Services was the successful applicant to RCEC’s call for proposals in early May and has been contracted to provide project construction management services. Mr. Marchand will soon be soliciting expressions of interest from local contractors to do various aspects of the project. KMW Systems Inc. of London, Ontario was the low tender on the boiler and Eric Rosen, a principal of KMW, and the project-engineering consultants (John Chin and Jim Manson of FVB Energy Inc.) will be in Revelstoke the week of June 28 to finalize the boiler contract. The pipe for the CES has been ordered and will arrive in August. The laying of the pipelines will take up to four months. FCM has been the national voice of municipal governments since 1901. It is dedicated to improving the quality of life in communities by promoting strong, effective and accountable municipal government. For information on this project, please contact:
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