"We are pleased to have commissioned our 34th facility, reinforcing our leadership position among independent power producers in British Columbia and, indeed, in Canada, with a gross installed capacity totaling more than 1,200 MW. This project was realized thanks to the support and collaboration of the Douglas and S'tailes First Nations, with whom we enjoy solid long-term relations," states Michel Letellier, president and CEO of the corporation.
The 21.2 MW Tretheway Creek hydroelectric facility is located on Crown land, about 30 miles north of the community of Harrison Hot Springs, British Columbia.
Construction began in 2013 and was completed in mid-October of this year, on time and about $7 million under budget. The COD certificate has been approved by BC Hydro with an effective commissioning date of October 27, 2015.
Tretheway Creek's average annual production is estimated to reach 81,000 MWh, enough to power more than 7,300 BC households. In its first full year of operation, it is expected to generate revenues and Adjusted EBITDA of just under $8 .7 million and $7 .2 million respectively.
All of the electricity it produces is covered by a 40-year fixed-price power purchase agreement with BC Hydro, which was obtained under that province's 2008 Clean Power Call Request for Proposals and which provides for an annual adjustment to the selling price based on a portion of the Consumer Price Index.