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Great Lakes Power to invest in High Falls hydro

Canadian utility company, Great Lakes Power (GLP), is considering investing C$500M (US$333M) to double its earnings by 2005. The proposed investments include the expansion of GLP’s power generating base through the development and or acquisition of hydroelectric power facilities.

GLP is to invest C$75M to redevelop the 45MW High Falls generating station in northern Ontario, and also plans to spend C$113M to acquire a 50% economic interest in two hydroelectric generating facilities in British Columbia from Pacifica Papers.