Hydro Ottawa to acquire remaining Chaudière Falls hydro assets in Q3 2016
June 20, 2016 | By Renée Francoeur
June 20, 2016 – Hydro Ottawa announced it has entered into a purchase and sale agreement with Hydro-Quebec to acquire the remaining 33% interest in the Ottawa River Ring Dam and a 27MW hydro generating station (Centrale Hull 2) on the Gatineau side of Chaudière Falls.
Hydro Ottawa’s existing portfolio at Chaudière Falls includes six run-of-the-river hydro plants, a 67% interest in the Ring Dam and all water rights. In 2014, Hydro Ottawa announced a 40-year contract with the former Ontario Power Authority (now merged with the Independent Electricity System Operator) to expand its Chaudière Falls site with a new 29MW facility, to be completed in 2017.
Once this acquisition is complete, Hydro Ottawa says it will own 100% of the facilities at the Chaudière site on both sides of the Ottawa River.
“On behalf of city council, I am pleased that Hydro Ottawa is increasing its supply of renewable energy, enough to power 22,500 more homes a year,” said Jim Watson, mayor of Ottawa, during the announcement earlier today.
The closing of this acquisition is expected during Q3 2016.
The utility also notes negotiations are ongoing with the IESO to secure a power purchase agreement for Centrale Hull 2 and Gatineau No. 1 (already owned by Hydro Ottawa) to be connected to the Hydro Ottawa distribution system in order to sell electricity to the province. The two hydroelectric stations have a total output of 39MW, according to Hydro Ottawa.
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