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.

HydroVision International 2014 Keynote Speakers

Presenting the HydroVision International 2014 Keynote Speakers

Check out a slideshow covering the keynote speakers at the HydroVision International 2014 conference and exhibition

Click Here >>

Hydro Industry Financials

Buyers Guide Products

Micro Hydro Power Generating Equipment

TOSHIBA’s Micro Hydro series comprise five stan...

Andritz Compact HydroTurbines

A modular design for the small hydro power rang...

Turbines, Francis

Voith supplies cost-effective Francis units in ...

Most Read Articles

Recent Comments

Buyers Guide Companies

Wiegert & Baehr Maschinenbau GmbH

Offers Pelton and Francis turbines to 5000kW, K...

Sigma Engineering Ltd

Sigma provides services in hydrology and all as...

GUGLER Water Turbines GmbH

Develops and supplies water turbines and small ...

TURAB Turbin & Regulatorservice AB

Manufactures, refurbishes and maintains hydro t...

Schmidt Industries

Manufacturer of valve assemblies, Rotor and She...

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

07/01/2014
Volume 33, Issue 6
file
07/01/2014
Volume 22, Issue 4
file

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues