First of all, to touch on a comment you made on hydro, we are not adding any hydro generation at the present time. We did have a potential project in northern Saskatchewan, a river diversion project, which was very clean, renewable, and environmentally responsible. It was a 50-megawatt project. We just put that project on hold because the mining load in the north has dropped off considerably, and that's a predominant driver. That project has been deferred to a later date for a decision. It may materialize in the next few years—we do not know—but that was the only project on the books currently.
With respect to coal, we have our carbon capture facility at Boundary Dam. It's a nominal 160-megawatt unit. When it's operating on carbon capture, it produces about 120 megawatts. When it's operating at full design, it achieves a 90% reduction in carbon dioxide, and it's technology that works. It's now three years since we've had commercial operation of that facility. We continue to get improved performance each and every year.
The issue with that facility right now is that we are under contract with one offtaker, and that offtaker, because of the price of oil in the area, has elected to take a minimum amount of carbon dioxide. That means the revenue stream we can earn from that is somewhat reduced from our initial projections. The cost for doing carbon capture and storage, of course, is significantly more than conventional coal. I think the other aspect is that the substantial reduction in the price of natural gas in North America over the past number of years has shifted the equation significantly in favour of combined cycle gas technology in most jurisdictions.
One of the latest reports I have read said that, even in the U.S., natural gas is displacing conventional coal, and over 51,000 megawatts of conventional coal has been retired in North America in the last five years.
It is technology that is working. It does reduce emissions on one plant. Remember, we still have six other operating units in our fleet, and two of those we will be making a decision on in 2018.