Fortis Concludes Agreements for Waneta Expansion Hydropower Project

Fortis Inc., in partnership with Columbia Power Corporation and Columbia Basin Trust, has concluded definitive agreements to construct the 335-MW Waneta Expansion hydroelectric generating facility at an estimated cost of $900 million, Fortis announced.

The hydropower project was announced Aug. 26, 2010. The project is sited near the Waneta Dam and powerhouse facilities on the Pend d’Oreille River, south of Trail, British Columbia. Fortis owns a 51 percent interest in the Waneta Expansion and will operate and maintain the non-regulated investment when the facility comes into service, which is expected in spring 2015.

Construction is expected to start this fall. SNC-Lavalin will be the contractor for the project, reports indicate.

Fortis Inc. is the largest investor-owned distribution utility in Canada. The corporation

serves approximately 2,100,000 gas and electricity customers.

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