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Innergex energizes hydroproject in British Columbia

The 25.3-MW Boulder Creek hydroelectric facility in British Columbia has reached commercial operation, according to a May 26 news release from its owners. The run-of-river project is 66.7% owned by Innergex Renewable Energy Inc. and 33.3% owned by Ledcor Power Group Ltd., a subsidiary of global construction firm the Ledcor Group of Cos.

Boulder Creek is part of a bigger project that includes another run-of-river hydroelectric power plant, the 81.4-MW Upper Lillooet plant, which was placed online in the first quarter of the year. Innergex receives almost all of the cash flows generated by the two power plants as the owner of 100% of their preferred shares.

For its first full year of operation, Boulder Creek is expected to contribute revenues of approximately C$9.0 million and adjusted EBITDA of C$7.5 million. Construction of the facility started in 2013 and it was commissioned on May 16.

The output of Upper Lillooet River and Boulder Creek is sold to the BC Hydro and Power Authority under 40-year fixed-price power contracts.