Edgy energy investors seeking to diversify their portfolio away from Big Oil and nuclear have taken a revived interest in renewables, especially projects in investor-friendly countries with progressive governments.
At the top of the list would be Canada, right?
Stable, largely English-speaking, progressive and environmentally friendly, right?
Therein hangs a tale, proving the timeless value of the adage, "caveat emptor."
Trillium Power Wind Corp., according to its website, is "a privately owned company headquartered in Toronto committed to the development of offshore wind in Ontario and The Great Lakes region. The Trillium Power management team has developed and operated waterpower facilities in Ontario since the 1980s and has been involved in other major energy installations around the world" and has spent millions of dollars over the years planning its projects.
Trillium Power Wind Corp. had planned to build a series of massive wind farms in Lake Ontario but is now suing Ontario's provincial government for $2.25 billion, claiming its Liberal government sandbagged them by unfairly cancelling all offshore wind projects in February.
The reason? Ontario's government said it would not consider any offshore development until more scientific studies were done. In the suit filed 28 September in Ontario Superior Court, Trillium alleged that the government's decision was made for purely political reasons, to appease wind-power critics in the electoral…