Alterra, Fiera Axium building 62MW hydroelectric project in B.C.
Alterra will own 51 per cent of Jimmie Creek project, Fiera will own remaining 49 per cent stake
VANCOUVER—Alterra Power Corp. and Fiera Axium Infrastructure Inc. are teaming up to build a 62-megawatt hydroelectric plant in southwest British Columbia.
According to Alterra, the two firms have signed a partnership agreement for the Jimmie Creek hydroelectric project that will sell 100 per cent of its power to BC Hydro under a 40-year power purchase agreement starting in August 2016.
“We’re excited to partner with Fiera Axium on this important project, and we now look forward to completing financial arrangements and finishing construction together,” Alterra vice-president of project finance Jon Schintler said in a statement.
Alterra will own 51 per cent of the project and Fiera will own the remaining 49 per cent stake.
Construction is already underway on the project.