Innergex, Cayoose Creek to Buy British Columbia Hydro Projectby
Deal worth $6.7 million expected to close in the first quarter
The 16-megawatt Walden North plant sells power to BC Hydro
Innergex Renewable Energy Inc. and the Cayoose Creek Band agreed to buy a 16-megawatt hydropower plant in British Columbia for C$9.2 million ($6.7 million).
Innergex and Cayoose Creek Development Corp. formed a limited partnership to buy the Walden North run-of-river plant near Lillooet, about 250 kilometers (156 miles) northeast of Vancouver, from FortisBC Energy Inc. The deal is expected to close in the first quarter, Longueuil, Quebec-based Innergex said in a statement Wednesday.
Walden North has been operational since 1993 and the output is sold to British Columbia Hydro & Power Authority.