Alterra Power Corp and Fiera Axium Infrastructure Inc have partnered to develop the 62MW Jimmie Creek hydroelectric project in southwest British Columbia, Canada.
The firms have completed a partnership agreement that will see Alterra own 51% of the project and Fiera Axium Infrastructure Canada II LP own 49%. Construction activities have begun at the site, and the partners expect to complete financial closing for the project later this quarter.
"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," said Alterra’s VP of Project Finance, Jon Schintler.
"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 Infrastructure Inc.
The Jimmie Creek project will sell 100% of its power to BC Hydro for 40 years beginning in August 2016.
