Canada developer signs Kiewit to build 196-MW East Toba-Montrose

Plutonic Power Corp. signed a C$497 million (US$477 million) construction contract September 20 with Peter Kiewit Sons Co. for construction of the 196-MW East Toba-Montrose hydroelectric project in British Columbia.

Plutonic and investor-partner GE Energy Financial Services authorized the engineering-procurement-construction contract including two powerhouses — 123-MW East Toba River and 73-MW Montrose Creek — with intakes, penstocks, and a transmission line.

The parties expect to complete the financing package in mid- to late October, with commercial operation of East Toba River by mid-2010 and Montrose Creek by late 2010.

Plutonic gave Kiewit a limited notice in July to begin construction of site infrastructure, including 60 kilometers of access roads, 11 bridges, and other infrastructure in preparation for groundbreaking. (HNN 7/19/07) Plutonic and GE Energy will finance and operate the C$660 million (US$633 million) run-of-river project.

The first barge delivered heavy equipment and materials to a site at the head of the Toba Inlet the week of July 9, following a 20-hour trip across Howe Sound. More than 130 barge trips will be made during the three-year course of construction of the project, 150 kilometers north of Powell River.

Plutonic is involved in the development of 34 proposed hydro projects in British Columbia with a total design capacity of about 1,700 MW. (HNN 8/15/07)

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