Innergex begins operations at 17.5 MW BC hydro facility

Northwest Stave River project will power more than 5,500 BC households annually.

LONGUEUIL, Que. – Innergex Renewable Energy Inc. has begun commercial operation of the 17.5 megawatt Northwest Stave River run-of-river hydroelectric facility located in BC.

The 17.5 megawatt Northwest Stave River hydroelectric facility is located on Crown land, approximately 50 km north of Mission, BC. Construction began in 2011 and was completed in early December 2013. Commissioning of the facility began at that time and the COD certificate has been approved by BC Hydro.

Northwest Stave’s average annual production is estimated to reach 63,300 megawatt-hours, enough to power more than 5,500 BC households. In its first full year of operation, it is expected to generate revenues of $7 million and Adjusted EBITDA of $6 million respectively.

All of the electricity it produces is covered by a 40-year fixed-price power purchase agreement with BC Hydro, which was obtained under that province’s 2008 Clean Power Call Request for Proposals and which provides for an annual adjustment to the selling price based on a portion of the Consumer Price Index.

Innergex Renewable Energy Inc. is an independent renewable power producer active since 1990, which develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms in Quebec, Ontario and BC and in Idaho with an aggregate net installed capacity of 672 megawatts.

Its operations include 25 hydroelectric operating facilities, six wind farms, and one solar photovoltaic farm.