Innergex Renewable Energy Inc. reports that its 25.3-MW Boulder Creek hydroelectric facility in British Columbia has begun commercial operation.
Boulder Creek is part of the Upper Lillooet River Hydro Project, along with the 81.4-MW Upper Lillooet River project. Boulder Creek is located on crown land about 40 km north of the Village of Pemberton.
Construction on the facility began in 2013 and the commercial operation date certificate delivered to BC Hydro indicates an effective commissioning date of May 16, 2017, Innergex Renewable Energy says. Boulder Creek is expected to produce 92,500 MWh of electricity annually.
Innergex owns a 66.7% interest in the hydro project and Ledcor Power Group Ltd. owns 33.3%. Innergex holds 100% of the preferred shares in the two facilities and therefore receives almost all of the cash flow generated. In its first full year of operation, Boulder Creek is expected to generate revenues and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of about $9 million and $7.5 million, respectively, according to a press release from Innergex Renewable Energy. All of the electricity produced is covered by a 40-year fixed-price power purchase agreement with BC Hydro.
“We are extremely proud to announce the commissioning of the Boulder Creek hydroelectric facility, our 18th hydroelectric facility in British Columbia. BC is blessed with an abundance of hydro resources that remain largely untapped and our track record shows that when developed properly, we can generate clean and affordable electricity for British Columbians while helping the province and the country achieve their climate change goals,” stated Michel Letellier, president and chief executive officer of Innergex Renewable Energy.
The Upper Lillooet facility began commercial operation on March 30, 2017.
Innergex develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia in Canada, as well as France and Idaho in the U.S. It has interests in 51 operating facilities, including 31 hydroelectric facilities.
Ledcor is a construction company serving the building, oil and gas, infrastructure, mining, power and telecommunications sectors.
For more details on the two facilities, click here.
Another Innergex hydro facility, 40.6-MW Big Silver Creek, began operating in August 2016.