Canada utility to buy power from 66-MW McLymont, 16-MW Volcano

CALGARY, Alberta, Canada 11/17/11 (PennWell) -- Canadian utility BC Hydro has signed power purchase agreements with developer AltaGas Ltd. to purchase electricity from the 66-MW McLymont Creek and 16-MW Volcano Creek hydroelectric projects being developed by AltaGas in British Columbia.

"With a combined capacity of approximately 82 MW, the McLymont Creek and Volcano Creek projects, in addition to our 195-MW Forrest Kerr project, represent a C$1 billion (US$979.6 million) investment in British Columbia," AltaGas Chairman David Cornhill said Nov. 2. "These three projects align with our strategy of adding low-risk, long-life assets as we continue to build long-term contracted assets that will generate power and deliver strong shareholder value for generations to come."

AltaGas and the Tahltan Central Council signed agreements in October to advance construction of McLymont Creek and Volcano Creek in Tahltan Nation territory. The projects are near, and share synergies and construction infrastructure, with the Forrest Kerr project, which is under construction on the Iskut River.

AltaGas said the power purchase agreements are similar in all respects to the 60-year CPI-indexed purchase agreement for Forrest Kerr, which was signed with BC Hydro in May 2010.

Together, the three hydro plants are known as the Northwest Projects. They are to deliver electricity to the 287-kilovolt Northwest Transmission Line being built by BC Hydro near Bob Quinn, B.C. AltaGas expects Forrest Kerr to begin service in 2014, followed by McLymont Creek and Volcano Creek in 2015.

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