Michael Harris, Online Editor, HydroWorld.com
November 26, 2012 | 0 Comments
Hydro Ottawa has completed the purchase its purchase of Chaudiere Falls hydroelectric assets from Canadian paper company Domtar, HydroWorld.com has learned.
The US$46.3 million deal, reported by HydroWorld.com in June, includes three hydroelectric plants, a 38.3% share in the consortium that owns Chaudiere Falls Dam, and remaining water rights at Chaudiere Falls.
"This presents a tremendous opportunity for Ontario to add 21 MW of renewable run-of-the-river hydro power, with the potential to expand that to more than 40 MW as we explore additional opportunities at this side," says Hydro Ottawa President Bryce Conrad.
The acquisition pushes Hydro Ottawa's hydroelectric capacity to more than 38 MW.
Energy Ottawa -- Hydro Ottawa's renewable energy subsidiary -- now owns six of the seven generating stations at Chaudiere Falls. Hydro-Quebec owns the remaining one, although the energy produced by that station is purchased by Energy Ottawa under a long-term power purchase agreement.
Hydro Ottawa says the deal is a "key part" of its plan to increase its renewable energy resources.