Energy & Power
Alterra Power acquires four BC hydro projects from Sigma
By Renée Francoeur
October 21, 2015 – Alterra Power Corp. says it has agreed to acquire the water rights for four hydroelectric development projects from Sigma Engineering (the Chusan, Powell, Eldred North and Eldred South projects).
The projects are located approximately 20-30 km from Alterra’s existing Toba Montrose and Jimmie Creek projects, and are situated along the Toba Montrose transmission line in British Columbia. Each project is expected to have between 10-15MW of generation capacity, and could be eligible for power purchase agreements under BC Hydro’s Standing Offer Program, Alterra noted. The acquisition should be completed by the end of 2015 and is subject to satisfaction of customary conditions precedent, the company added.
“Acquiring these projects gives us new expansion options in the Toba Valley where we will be operating nearly 300MW of renewable generation once the Jimmie Creek project begins operating next summer”, said Jay Sutton, Alterra’s vice-president of of Hydro.
Alterra Power Corp. currently operates five power plants totaling 553 MW of generation capacity.