Under the original legislation, utility Nova Scotia Power would have faced fines of up to C$500,000 a day if it failed to meet the 2010 deadline. It now has until the end of 2011. The utility signed contracts for seven wind projects totalling 244 MW last year, all due online by the end of this year, but developers have struggled to secure financing. "It means we get a little bit more breathing room," says Larry Leblanc, chief executive of Renewable Energy Services, a local company in the process of installing 11 Enercon 2 MW turbines in its Point Tupper project. Meanwhile, Shear Wind's 60 MW Glen Dhu project, also using Enercon 2 MW turbines, should be online by the end of 2010, says its CEO, Mike Magnus. The company is still studying the implications of the government's decision. "We think it is right, but there are financial implications for us that we have to study to ensure we do benefit from the trickle-down effect," Magnus says. Under its contract with Nova Scotia Power, Shear Wind faces penalties if delivery deadlines are not met, he notes, adding: "We would hope that any penalties we would be subject to would be forgiven as a result of this extension." Jennifer Parker, a spokeswoman for Nova Scotia Power, says: "Obviously those are contractual issues that we will be discussing confidentially with the independent power producers that we signed contracts with." Nova Scotia's target for new renewable energy supply increases to 10% in 2013. That deadline has not changed
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