Northwest Stave River run-of-river hydropower project secures financing

Sponsored by

Innergex Renewable Energy Inc. closed a $72 million non-recourse construction and term project financing for the Northwest Stave River run-of-river hydroelectric project located in British Columbia, Canada.

The 17.5 MW Northwest Stave River hydroelectric project is located on Crown land, about 35 km north of Mission, British Columbia. Construction began in 2011 and commercial operation is expected to begin in the fourth quarter of 2013. Northwest Stave's average annual production is estimated to reach 61,900 MWh, enough to power about 6,000 average Canadian households.

All of the electricity it will produce will be 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. The proceeds of the financing will be used to fund about 80 percent of the total project costs.

The $72 million construction loan will carry a fixed interest rate of 5.3 percent; upon the start of the project's commercial operation, it will convert into a 40-year term loan and the principal will begin to be amortized over a 35-year period, starting in the sixth year.

The financing has been arranged by Industrial Alliance Insurance and Financial Services Inc. as agent and lead lender, and includes Stonebridge Infrastructure Debt Fund I L.P. as lender.

Sponsored by

CURRENT ARTICLES

Apple rumored to have hundreds working on electric vehicle

02/26/2015

If Apple does sell an electric car, it will face some competitors

New England governors look to expand renewable energy, natural gas

02/26/2015 Massachusetts Gov. Charlie Baker said the effort is part of a push to reduce energy costs, strengthen grid reliability and...

Energy storage company A123 sues Apple for poaching engineers

02/26/2015

Battery maker A123 Systems is suing Apple, claiming it aggressively poached some key staff members 

Electric utility mergers: Iberdrola USA to acquire UIL Holdings Corp.

02/26/2015 Iberdrola USA and UIL Holdings Corp. entered into a definitive agreement under which Iberdrola USA will acquire UIL and cr...

Arizona utility tells FERC that EPA will force it to shut down coal plant

02/26/2015 Arizona Electric Power Cooperative in a Feb. 24 filing at the Federal Energy Regulatory Commission said that the U.S. EPA'...

Appalachian Power to lower electric bills for Virginia customers

02/26/2015

The decrease will vary depending on electricity usage

Utility-scale solar power has its best year ever

02/26/2015

With more than 3.7 GW installed, 2014 was the best year yet for utility-scale solar power installations 

INDUSTRY STOCKS

ON DEMAND WEBCASTS

Beyond Integration: Three Dynamics Reshaping Renewables and the Grid

In a unique industry research initiative, DNV GL gathered views from over 1,600 energy sector par...

Engaging the Small and Mid-sized Business (SMB) Marketplace

This session will outline how Duke Energy leveraged Voice of Customer insights, previous experien...

When Grid Optimization is Not Enough: Making Cents of Disruptive Change.

Electric utilities today face unprecedented volatility and business challenges. To stay competiti...

Avoiding the Pitfalls of Premium Power

Premium power is an increasingly valuable tool for utilities and municipalities, who can charge m...

The Integrated Operating Model Creating an Advanced Outage Management Environment to Control the Grid

Amy Hime, Senior Manager of Engineering and Asset Systems at Enersource, will discuss the journey...

EL&P BUYER'S GUIDE PRODUCTS

MITEM Corp

Provides CRM solutions for regulated U.S. public utilities. The product, MitemView integrates differently designed systems to share critical data a...

Resources on Demand

Manages resource requests, tracks personnel movements, and supports lodging/logistics during a power restoration event.

Smart Grids

Quanta is contributing to its customers' smart grid initiatives by installing technology on power networks to provide energy management solutions f...

Horizontal Directional Drilling

With 28 small, mid-sized and large drilling rigs, Quanta Pipeline Services is one of the largest horizontal directional contractors in the world fo...

POWERGRID PRODUCT LISTINGS

EtherMate® Industrial Ethernet - IO Modules

LioN-M ProfiNet device with 16 digital I/O channels, channels can be used universally as inputs or outputs, M12 socket, ro...

Low-Smoke Zero Halogen Premise Distribution Cable

AFL’s Low-Smoke Zero Halogen (LSZH) distribution cable offers all of the benefits of a traditional 900 µm based optical ca...

OFL280 FlexTester - Handheld OTDR

AFL's OFL280 FlexTester offers an unmatched combination of fiber test functions, ease-of-use, portability, and value.

TRM® 2.0 - Test Results Manager PC Analysis and Reporting

Test Results Manager 2.0 (TRM® 2.0) is an all-in-one analysis, viewer and reporting tool designed for use with NOYES fiber...

FEATURED ENERGY JOBS

View more Job Listings >>

POWERGRID International

October 2014
Volume 19, Issue 10
1410pg_C1digital

ELECTRIC LIGHT & POWER

October 2014
Volume 92, Issue 5
1409ELP-cover_digital