The announcement from the new Minister of Consumer Services and Government House Leader Todd Smith that the White Pines wind farm project will be abandoned effective on 10 July 2018 comes as an unmatched surprise to wpd. "Trust in the rule of law and investment security in Ontario would be trampled underfoot if the abrupt abandonment of the wind farm project, which is in the middle of construction, were confirmed" says wpd board member Dr. Hartmut Brösamle. He continues: "A halt to construction without warning from the ministry would have significant economic consequences for all involved parties." 

The White Pines project has been developed by wpd with great commitment and diligence and in compliance with all regulatory requirements since 2009. All necessary permits have been obtained and the project is under construction. The first wind turbine and the infrastructure have been completely installed. The wind turbines are slated to go live this coming September. The total investment volume is CAD 82 million.

Like all other investors in Canada, wpd assumes that legally granted and valid approvals will be honored at any time, even in the event of a change of government. Anything else would send out a fatal signal to the entire economy. The protection of confidence is a great asset and will certainly not be called into question by the new government either. In this respect, we fully trust the constitutional state of Canada.

wpd | www.wpd.de