OGDENSBURG — A Canadian utility developer has proposed building an underground power plant capable of generating up to 1,000 megawatts of electricity.
Riverbank Power Corp. of Toronto is discussing with the Ogdensburg Bridge and Port Authority a possible purchase or lease of property for the project. The plant, named Aquabank, would generate power during the day using water from the St. Lawrence River when demand is highest, then pump the water back into the river at night when power demand is low.
The pumped-storage power project, which could cost an estimated $2 billion, could generate up to 100 permanent jobs, along with employment for about 600 construction workers, according to Riverbank's Web site. The project could take about four years to complete.
"We firmly believe that underground renewable power generation represents a legitimate and desirable alternative for both American and Canadian policy makers, regulators, environmentalists and other stakeholders to seriously consider in their deliberations for how to best procure reliable self-sufficiency of renewable energy," the company's Web site states.
The project calls for water to be diverted from the St. Lawrence into several large shafts that reach a depth of about 600 meters (nearly 2,000 feet). The water then feeds into an underground power station containing four large turbines to produce electricity. The power is then transmitted to the power grid for distribution, the company said.
The water will be temporarily stored in massive underground reservoirs during the day until its pumped back into the river at night. Electricity from other sources will be needed to return the water to the river.
An electrical substation, which would occupy from five to 10 acres, would be constructed on the surface.
"Underground renewable power generation will be very competitive with the price of thermal energy and in many instances will be cheaper," the company's Web site states.
The company says no "fish or fish habitat" will be affected by the project.
Riverbank has estimated it could divert about 215 cubic meters per second of water from the river. The water levels of the St. Lawrence could be impacted by the plant's diversion, an especially sensitive topic as the International Joint Commission prepares to select a new water level regulating plan.
The IJC recently announced a plan, similar to one now in place, to keep water levels high in Lake Ontario during the summer and cut them in the fall. Critics contend more natural fluctuations in lake levels should occur.
Riverbank Power had originally filed five interconnection applications for projects — two in St. Lawrence County and one each in Niagara, Rockland and Queens counties — through the New York Independent System Operator. The company recently withdrew its application for a project in Queens County.
The NYISO is the nonprofit gatekeeper for allowing new power producers on the state's grid. The agency will review the interconnection request to determine what infrastructure upgrades will be necessary to get the power safely on the grid.
The NYISO Web site lists all four projects in the "feasibility study pending" stage, with each project capable of generating up to 1,000 megawatts. The projects all could be producing electricity beginning in June 2014, pending feasibility study results and federal, state and local permits.
The primary investor backing the venture is BlackRock of New York City, an investment management firm. The company has assets totaling about $1.36 trillion, according to its Web site. BlackRock officials didn't return a call for comment Thursday.
Riverbank Power President and Chief Executive Officer John C. Douglas, OBPA Executive Director Wade A. Davis and St. Lawrence County Economic Development Director Raymond H. Fountain all declined comment on the proposed project.
Last month, the OBPA's board of directors approved creating an escrow account of up to $15,000 to cover costs associated with the project. The escrow account will be set up to cover the costs of hiring the law firm of McKenna, Long & Aldridge in Albany.
