Innergex announces commercial startup of 40.6-MW Big Silver Creek hydroelectric plant

Big Silver Creek Hydropower Plant

Commercial operation has begun at the 40.6-MW Big Silver Creek hydroelectric plant, developer Innergex Renewable Energy Inc. said yesterday.

Construction on the run-of-river project began in June 2014 and was completed in July ahead of schedule and within budget, according to Innergex (TSX: INE). The facility has an effective commissioning date of July 29.

"We are proud to have commissioned our 43rd facility, reinforcing our leadership position among independent power producers in British Columbia and in Canada with a gross installed capacity totaling 1,359 MW," president and CEO Michel Letellier said.

Big Silver Creek is located on Crown land about 40 km north of Harrison Hot Springs and is expected to generate power for about 12,700 homes. Innergex expects the project to generate annual revenues of about US$14 million, with earnings before interest, taxes, depreciation and amortization of $11.6 million.

Power generated by Big Silver Creek will be sold under a 40-year fixed-price power purchase agreement with BC Hydro, which was obtained under British Columbia's 2008 Clean Power Call Request for Proposals.

HydroWorld.com reported in June 2015 that Innergex had closed more than more than $160 million in non-recourse construction and term project financing for the project.

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