An agreement with General Electric will give renewable energy developer Alterra Power Corp. 100% ownership of the 62-MW Jimmie Creek hydropower project, a company statement said.
Alterra announced that it had signed development agreements with the Klahoose First Nation for the run-of-river plant’s construction in May 2012, giving Jimmie Creek a projected completion date of August 2016.
Energy generated by the plant will be sold to BC Hydro for 40 years.
“Finalizing this agreement with BC Hydro is an important milestone for Jimmie Creek, and will support us placing this project into construction in the first half of 2014,” Alterra Vice President of Hydro Operations Jay Sutton said.
Financial terms of the deal were not disclosed.
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