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Innergex closes deal on Miller Creek, Brown Lake hydropower facilities

Canadian power developer Innergex Renewable Energy Inc. has completed its acquisition of the 7.2-MW Brown Lake and 33-MW Miller Creek hydropower plants.

HydroWorld.com reported in June that Innergex had signed a purchase and sale agreement with former owner Capital Power Corporation, which sold the plants for US$68.6 million.

Utility company BC Hydro had a chance to purchase the Miller Creek hydroelectric facility but waived its right of first refusal.

Innergex says it plans to double the capacity of the Brown Lake project with an investment of about $20 million. Currently, the plant -- which was commissioned in 1996 near Prince Rupert -- operates under a 20-year power purchase agreement with BC Hydro that expires in 2016.

Meanwhile, the company says it plans to spend about $8.5 million to upgrade the penstock and water intake at Miller Creek. Power produced at Miller Creek is also sold to BC Hydro under a 20-year power purchase agreement that expires in 2023, although BC Hydro holds two consecutive five-year renewal options.


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