Contractor Peter Kiewit and Sons is staging materials and equipment in Richmond for barging to British Columbia’s Toba Valley for the start of construction of the 123-MW East Toba River and 73-MW Montrose Creek project.
Anticipating closure of project financing, developer Plutonic Power Corp. said June 27 that construction in expected to begin in July. (HNN 5/30/07) Plutonic said initial funding would come from an equity contribution of GE Energy Financial Services. GE announced in May it would invest C$112 million (US$103 million) to acquire 49 percent equity and 60 percent economic interest in the project.
Final regulatory approvals were received June 21 from the Integrated Land Management Bureau and British Columbia’s Environment Ministry. The agencies granted land tenures and water licenses for project sites, roads, and transmission lines.
Plutonic has 1,400 MW on drawing board
Plutonic has proposed 29 development projects in British Columbia with a design capacity of 1,400 MW. It hired Peter Kiewit and Knight Piesold Ltd. to conduct engineering and cost estimates for various projects.
The developer directed the engineers to determine the cost and logistics of developing 13 Bute Inlet projects totaling 737 MW and three Knight Inlet sites totaling 154 MW. It hopes to submit all 16 sites in response to BC Hydro’s upcoming request for independent power, expected in the fourth quarter of 2007.
The company also is considering three projects totaling 116 MW that could be built in a second phase of development in the Toba Valley. Plutonic said it has 19 water license applications for sites in the Toba Valley, Bute Inlet, and Knight Inlet areas.