Alterra provides updates on Jimmie Creek, Tahumming hydropower plants in latest quarterly report

Alterra Logo

Quarterly reports released earlier this week by Canadian renewable energy generator Alterra Power Corp. reveal milestones for the company's Jimmie Creek and Tahumming hydropower projects.

According to the report, which examines financial and operating results for the three and six month periods ending June 30, construction of the 62-MW Jimmie Creek plant is ahead of schedule. reported this past September that Alterra (TSX: AXY) had closed a US$100.5 million loan facility to finance the Jimmie Creek project, which will be located on the Toba River Valley near Powell River, B.C.

The project includes a rubber diversion dam, a 3-kilometer-long buried penstock and powerhouse, and two 32.5 MW turbine-generators. Power generated by the run-of-river facility will be sold to BC Hydro under a 40-year deal.

Jimmie Creek is expected to begin generating power in Summer 2016. The plant is a joint venture between Alterra, which owns 51% of the project, and Fiera Axium Infrastructure Inc.

Meanwhile, an agreement signed with the Klahoose First Nation will allow for the development of the 15-MW Tahumming plant. The project will be located near the Jimmie Creek and 234-MW Toba Montrose projects in traditional Klahoose territory.

For more news from Canada, visit here.  

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs