Friday, October 19, 2012

Innergex acquires Northwest power plant

The Canadian power developer Innergex Renweable Energy has completed its acquisition plans for a pair of power plants, one of them in the Northwest.

Innergex has closed its deal with Capital Power Corporation purchasing the two plants, one at Brown Lake and another at Miller Creek, purchase price of the two properties was 68.6 million dollars. (US)

Quebec based Innergex, has an increase in production in mind for its two properties, with plans in place to double the capacity of the Brown Lake project, injecting some 20 million dollars into that location. Located near Prince Rupert operates under a 20 year power purchase agreement with BC Hydro that expires in 2016.

The company will also spend 8.5 million dollars to upgrade Miller Creek located near Pemberton,  the Miller Creek project also provides Hydro power to BC Hydro, the current hydro agreement for Miller Creek expires in 2023.

Hydroworld-- Innergex closes deal on Miller Creek, Brown Lake hydropower facilities

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