SUNMine Kimberley

The City of Kimberley is looking for a buyer for the SunMine???  Is there something we don't know?

The city financials for 2016 for the SunMine show it made after expenses $134,000 in 2016.


It cost $5.65M (that we know of)  business case would be payments of $360,000 annually for 25 years.  

$3.65M was subsidy money, the city borrowed $2M in a referendum that said taxpayers would not every pay again.   
 They say they have to make $216,000 annually to break even, so what is their plan?  Will they sell it to Warren Buffett?  He made his billions this way, he might get it for say $1.5M all the remaining $4M taxpayers money is free a gift.  He could dismantle it and take it to Arizona where the sun actually shines and they have a heavy air conditioning load in summer and burn coal for power.

If you look further it gets pared down to only about $12,500 income, I don't pretend to know their bookeeping tactics.  And apparently the city put in even more money, its shown as up to
$2.3M  there is a hint the city paving budget  one year disappeared into the SunMine.
.....what is the truth.   

Last information is Teck is buying it for what the city owes $2.15M.  Teck is a business, there must be some kind of advantage to make this profitable even though its a money loser.  Taxes, carbon credits, who knows, businesses don't buy losing propositions.

The biggest loser is the taxpayer of BC.  BC Hydro contracts to buy that power for something like 10c/kWh.  Their heritage assets make power for around 3c/kWh.  

BC Politics and energy policies caused BC Hydro to pay for Run of River and other power projects at these full retail rates so they had some kind of potential payback for the investor.   All the while sending their clean green
water spilling down the river that would make that power for 3c and profits.


The public thinks this makes money, it just keeps the story going that solar works in BC and keeps picking the public pockets.  German is another story that keeps this up, the reality....search "german solar failure".  These are hard to overcome and stop the bleed.


Last information is the assessed value of the SunMine is around $1.6M.

From $5.65M plus BC Hydro paying full retail for all its power when they don't need it, and now assessed
at 20% of value.  They received awards for this.