Columbia Power and Columbia Basin Trust are both 100% owned by Government of British Columbia.
The $900m facility is located near the Waneta Dam and powerhouse facilities on the Pend d’Oreille River, south of Trail, British Columbia.
Fortis owns a 51% stake in the Waneta Expansion project, which involved construction of a 10km, 230KV transmission line and provides enough energy to power about 60,000 homes per year.
Power generated from the project will be sold to BC Hydro and FortisBC under 40-year long-term power purchase agreements.
Fortis serves approximately 3 million gas and electricity customers and its regulated holdings include electric distribution utilities in five Canadian provinces and three Caribbean countries and a natural gas utility in British Columbia.
Fortis is an electric and gas utility business, with total assets of more than $26bn. The company also owns and operates non-regulated hydroelectric generation assets across Canada and in Belize and Upper New York State.
