CHARLOTTETOWN, P.E.I. - Slemon Park Corporation is exploring a number of potential new ventures, including a solar energy pilot project and using the runway to fly products from Summerside to other markets.
Shawn McCarvill, president of Slemon Park Corporation, provided a briefing on the corporation’s operations to the legislative standing committee on infrastructure and energy Thursday.
In response to a question by Green Leader Peter Bevan-Baker, who pointed out Slemon Park’s open acreage is a “perfect setup for a large scale solar array,” McCarvill confirmed the corporation is indeed hoping to roll out a green energy project with solar as the “anchor part of the concept” sometime in the near future.
“We are in discussions with the P.E.I. Energy Corporation about a solar-related project,” he said.
“We don’t have any definition to that currently, but that is one of the significant innovative energy projects that we are considering and are optimistic that it will happen.”
Slemon Park is a perfect place to test new technologies and initiatives because of its contained structure that encompasses both commercial and residential operations, McCarvill noted.
Meanwhile, ongoing upgrades to the main runway are expected to help boost the economic fortunes of Slemon Park.
The corporation is hoping to establish a privately owned pilot training business in the park, which they expect would be key user of the runway. They are also hoping an improved runway could help attract a company that does work airframe maintenance work to set up shop in Summerside.
Summerside-Wilmot MLA Chris Palmer asked McCarvill if the possibility exists to use the runway to send local products to market by air, namely lobster shipments.
Jamie Aiken, executive director of Island Investment Development Inc., who accompanied McCarvill at the committee meeting, said this is something the department is investigating.
“We had some preliminary discussions with some companies about that, and I think that was the first step,” he said.
“We are looking at the possibility of cargo coming into Summerside – it could be lobster, it could be a number of different things.”
A number of other questions during the meeting revolved around the province’s decision to take over full ownership of Slemon Park last year as well as a $3.2 million loan from Island Investment Development Inc. to Slemon Park, approved by cabinet in August.
Aitken explained the province felt it was necessary to buy out the one private shareholder on the board in order to have the ability to develop the park according to the province’s strategic objectives while not also inflating the value of the minority shareholder’s shares with taxpayer funded investments in the park.
As for the $3.2 million loan, Aitken explained this was approved to refinance pre-existing debt owed by the Slemon Park Corporation to a chartered bank. Refinancing it through IIDI allowed the corporation to take advantage of a lower interest rate.
