AltaGas signs electricity purchase agreements with BC Hydro for McLymont and Volcano creek projects
“With a combined capacity of approximately 82 MW, the McLymont Creek and Volcano Creek projects—in addition to our 195 MW Forrest Kerr project—represent a $1-billion investment in British Columbia,” said David Cornhill, chair and CEO of AltaGas. “These three projects align with our strategy of adding low-risk, long-life assets as we continue to build long-term contracted assets that will generate power and deliver strong shareholder value for generations to come.”
Collectively, the three projects totalling about 277 MW are known as the Northwest Projects. They will be the anchor tenants for the Northwest Transmission Line, which will form the backbone of electrical infrastructure in northwest British Columbia. The projects will generate more than 400 direct jobs during construction, says AltaGas, and many times that in indirect economic benefits resulting from increased business activities in the area.
“Not only will our Northwest Projects help support government job creation strategies. but they will also provide much needed power to BC Hydro, which will allow them to meet the growing demand for power in the northwest,” said Cornhill.
AltaGas is targeting an in-service date of Q4 2015 for both the McLymont Creek and Volcano Creek projects. AltaGas expects the Forrest Kerr project (currently under construction) to come into service in July 2014.
The Northwest Projects will be constructed solely within Tahltan Nation traditional territory. AltaGas and the Tahltan Nation have signed IBAs for all three projects and have established a working relationship that will provide the people of the Tahltan Nation with employment, business opportunities and economic participation.