Energy & Power
Alterra and Fiera Axium partner for Jimmie Creek Hydroelectric Project
By Alyssa Dalton
April 25, 2014 – Alterra Power Corp. and Fiera Axium Infrastructure Inc. (through a managed fund) have completed a partnership agreement for the Jimmie Creek hydroelectric project in British Columbia.
Under the agreement, Alterra will own 51% of the project and Fiera Axium Infrastructure Canada II LP will own 49%.
According to the parties, 62MW of power will be generated and provided to southwest B.C. The project will sell 100% of its power to BC Hydro for 40 years beginning in August 2016. Construction activities have begun at the site, and the partners expect to complete financial closing for the project later this quarter.
Alterra’s vice president of project finance, Jon Schintler said, “We’re excited to partner with Fiera Axium on this important project, and we now look forward to completing financial arrangements and finishing construction together.”
“We are delighted to add another hydro power project to our diversified Fund portfolio,” added Dominic Chalifoux, vice president and senior asset operations director of Fiera Axium.