Untitled Document

Boralex closes financing for 22-MW Jamie Creek hydropower project

Boralex Logo

Boralex has closed financing for the 22-MW Jamie Creek hydroelectric plant, the international power developer and operator has announced.

Located near Gold Bridge, British Columbia, was owned by Sequoia Energy Inc. before Boralex announced its plan to acquire the plant in July 2012.

Financing for the deal will be provided by Canada Life Assurance Company and Great West Life Assurance Company, with TD Securities Inc. acting as advisor.

Boralex said the total amount of financing received is about US$53 million, or 85% of Jamie Creek's estimate costs.

The loan will enjoy a nine-year grace period for repayment of the principal, and will be amortized thereafter over a 31-year period at approximately a 5.42% rate for the full term of the loan.

Boralex said construction of the project is currently under way, with commissioning planned for the first quarter of 2014. The plant will operate under a 40-year power purchase agreement with BC Hydro, which also has rights to a 20-year renewal period.

For more small hydropower news, visit here.

Related Articles

Small Hydro

The latest news on global small hydroelectric facilities from July-August 2015

Dewey Lakes, River Mill and Prairie du Sac join Hydro Hall of Fame

Representatives for three facilities inducted into the Hydro Hall of Fame received their awa...

Union Group acquires Peru's 5.3-MW Canchayllo small hydropower plant

The Union Group has acquired the 5.3-MW Canchayllo hydropower project in Peru as part of an ...

Recent Comments

Hydro Slideshows

more slideshows >>  

Hydro Whitepapers

Industry News

Editor's Picks

Volume 34, Issue 5
Volume 23, Issue 3

Buyers Guide Products