Conifex puts bio-plant on hold

The plant in Mackenzie was scheduled to go into commercial operations in the third quarter of 2013

Central Interior Logging Association

Conifex has completed 30 per cent of its bio-energy project in Mackenzie, and has taken delivery of turbine generator from Russia. A press release states, “Conifex is continuing with essential engineering and equipment procurement activities but will temporarily suspend installation and construction activities.”

Conifex CEO Ken Shields says discussions with a lender to secure long-term financing for the project have ended, and they will be seeking alternative funding partners. “We remain optimistic that we will identify appropriate financing for the bio-energy project that makes sense for Conifex”, Shields says.

The plant was scheduled to go into commercial operations in the third quarter of 2013. Conifex has secured a 20 year energy purchase agreement with BC Hydro.