In addition to its power purchase agreement, this power station also brings hydroelectric potential upside of up to 37MW, which will be developed by Boralex in the short-term.
Boralex is also acquiring two other potential hydro projects under development in the same area for an additional 10MW.
A significant portion of the power station’s total output is sold to BC Hydro pursuant to a long-term power purchase agreement under the Remote Community Electrification Program. The power station currently generates approximately 13,000MWh per year.
The transaction will be completed following the receipt of regulatory approvals and the usual consents required for this type of transaction.
Patrick Lemaire, president and CEO of Boralex, said: We are delighted to enter into the British Columbia power market. This acquisition is in line with our strategic plan to expand our activities in this province and represents a milestone for our British Colombian development. The Boralex team will now focus on achieving the full potential of the power station and on developing the two potential projects.
