Alterra acquires rights to four British Columbia hydropower projects

Alterra Power Corporation

Canadian renewable energy generator Alterra Power Corp. has acquired the water rights for four hydroelectric power projects from Sigma Engineering.

The projects are located near Alterra's 62-MW Jimmie Creek and 88-MW Montrose hydropower plants along the Toba Montrose transmission line.

Included in the deal are rights to the Chusan, Powell, Eldred North and Eldred South projects -- each of which is expected to have an output capacity of between 10-15 MW and could be eligible for BC Hydro's Standing Offer Program.

"Acquiring these projects gives us new expansion options in the Toba Valley, where we will be operating nearly 300 MW of renewable generation once the Jimmie Creek project begins operating next summer," said Alterra Vice President of Hydro Jay Sutton.

The deal is expected to be completed by the end of the year pending the satisfaction of customary conditions. reported in August that Alterra (TSX: AXY) had reached an agreement signed with the Klahoose First Nation allowing for the development of the 15-MW Tahumming plant in traditional Klahoose territory.

For more news from Canada, visit here.

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