Yellowknife’s Con Mine project with hope through MOU with Corix Utilities
The Con Mine geothermal district heating project in the city of Yellowknife in the Canadian Northwest Territories receives hope with the MOU with Corix Utilities.
Reported yesterday from the Northwest Territories in Canada, the Con Mine geothermal project in the city of Yellowknife “has a new lease on life.”
After residents voted ‘no’ to the city borrowing nearly $50 million to finance the project, a Canadian company is stepping forward to show its desire to fund, develop and operate the central heating system.
Corix Utilities has signed a memorandum of understanding with the city, and from here, the company’s chief operating officer, Eric van Roon, said they’ll be consulting a number of people in the community over the next few months.
“We’re here to meet with people and stakeholders and do the tours, and we’ll take our time to make sure we do it right,” he told councillors at City Hall on Monday.
“Our approach will be a measured, staged approach to make sure the infrastructure is built up appropriately and affordably — that’s always been our approach in working with communities.”
The city administrator, Bob Long, explained that Corix has agreed to finance the Con Mine project since the March referendum failed to pass.
“We don’t have the authorization to borrow any money, so we won’t be borrowing any money. That’s why they’re here (Corix). They seem willing to borrow the money or come up with their own money.”
The $60 million central energy system will be brought on-line in phases using various sources of heat, including biomass and oil, with the geothermal component requiring the most research.
The city’s partnership with Corix is not a final agreement; the MOU outlines the terms of moving toward a business contract.”
Source: HQ Yellowknife