Photo Credit: Niagara This Week
While the biodigester is still taking it’s first baby steps after only a few months of operation, Grimsby Energy is already publicizing a potential partnership with Union Gas.
You can read more in this Niagara This Week article:
From a corporate governance perspective, prospective partnerships are usually kept quiet until a contract is ironed out and ready to sign. We aren’t sure why Grimsby Energy would prematurely announce a possible partnership, perhaps it is to put out spin and a better label on a much-delayed, over-budget and yet-to-be-proven local project.
If Union Gas does move forward and at the end of their due diligence decides the biodigester is not for them, then people will have even more questions of the biodigester and for those calling the shots at GEI.
A $10 million dollar project, a forecast of 8 to 10 years to pay down the debt, and a 20-year hydro FIT contract to honour… and now a possible future partnership with Union Gas, it will be interesting to see how this plays out. Stay tuned!