Sep 4 2010
Fortis Inc, a St.John’s NL Canada, declared that it has entered into a partnership with Columbia Power Corp. and Columbia Basin Trust, wholly owned government corporations of the British Columbia, to build a 225 MW hydropower production facility at a cost of $900 million.
The Hydropower production facility is located close to the Waneta Dam and its power house installations over the Pend d'Oreille River, south of Trail, British Columbia called as Waneta Expansion. This facility constructed with the provincial ecological evaluation and the approval is expected to have 51% participation from Fortis and it will control and manage the non-regulated investment till the facility is commissioned during the spring of 2015. The expansion will be developed as a part of Canal Plant Agreement and will be eligible to make claims on established average water flows related to a longer period thus reducing the risks normally linked with hydrologic projects.
The Waneta Expansion project is expected to produce around 630 GWh, which will be traded to BC Hydro under a long duration agreement, at a purchase price similar to that offered by BC Hydro to other such hydro projects agreed by BC Hydro under its Clean Power Call issued during 2008. The annual average excess production capacity of 234 MW will be sold to Fortis BC on approval of the Utility commission of British Columbia under a long term agreement.
Source: http://www.fortis.ca/