Canadian Manufacturing

Capital Power announces $69-million sale of two B.C. hydro facilities

by Canadian Manufacturing Daily Staff   

Manufacturing Energy hydroelectricity Innergex Renewable Energy mergers and acquisitions

Quebec-based Innergex Renewable Energy, Inc. signs deal expected to close in July

Edmonton—Edmonton-based power producer Capital Power has agreed to sell two of its British Columbia hydro facilities to a Quebec energy firm in a deal worth approximately $69.2-million.

The deal will see Quebec’s Innergex Renewable Energy, Inc., take ownership of the 33-megawatt (MW) Miller Creek and 7.2 MW Brown Lake facilities—near Pemberton, B.C., and Prince Rupert, B.C., respectively.

Innergex’s acquisition of the Miller Creek facility is conditional upon a 30-day right of first refusal in favour of BC Hydro, according to Capital Power.

The deal is expected to close in July.



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