Cancelled solar plant: NB on the hook for $10.8M
FREDERICTON: New Brunswick taxpayers are on the hook for $10.8 million to buy some of the assets of Umoe Solar after the Norwegian company cancelled plans to build a plant in Miramichi.
The province is spending that money as part of a 2009 obligation to acquire assets based on an agreement signed with the company.
“The decision by Umoe Solar not to proceed with the construction of the polysilicon plant is an unfortunate turn of events for the Miramichi region and its residents,” said Economic Development Minister Paul Robichaud.
The government will acquire land and equipment from Umoe Solar, while the privately held Umoe Group will retain ownership and continue to operate the Fornebu sawmill in Bathurst, which has about 95 employees.
The Umoe Group, a Norwegian holding company, purchased the former properties of UPM-Kymmene in early 2009 intending to enter the solar energy business by constructing a solar grade polysilicon manufacturing plant.
© The Canadian Press 2011
