As part of the transaction, the company has also purchased a 38.3% stake in the Ring Dam and remaining water rights at Chaudière Falls.
The purchase increases Hydro Ottawa’s hydroelectric portfolio to 38MW, enabling the production of enough renewable energy to power 28,000 households annually.
Hydro Ottawa president and CEO Bryce Conrad stated that this deal presents an opportunity to add 21MW of renewable run-of-the river hydro power in Ontario, with the potential to add more capacity to reach 40MW at the site.
Ottawa Mayor Jim Watson remarked that the Chaudière Falls generating stations have supplied power to Ottawa’s industrial expansion for more than 100 years.
"What many people don’t know is that Canada’s oldest surviving hydroelectric facility still operates right here in the nation’s capital," Watson added.
