The 17.5 MW Northwest Stave River hydroelectric facility is located on Crown land, about 50 km north of Mission, British Columbia. Construction began in 2011 and was completed in early December 2013, on time and on budget.
Commissioning of the facility began at that time and the COD certificate has now been approved by BC Hydro with an effective commissioning date of December 18, 2013.
Northwest Stave's average annual production is estimated to reach 63,300 MWh, enough to power more than 5,500 BC households. In its first full year of operation, it is expected to generate revenues and Adjusted EBITDA of about $7.0 million and $6.0 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.