Le Nordais has been in operation for over eight years, with its power being sold to Hydro-Quebec under a long-term power purchase agreement that expires on December 17, 2033.
Based on long-term average forecasts, Le Nordais is expected to generate 165GWh of green power per year and has annually generated approximately C$9 million in EBITDA since commencing production in 1999. The acquisition also provides a potential expansion at the existing site by up to an additional 70MW.
John Keating, CEO of Canadian Hydro, said: As part of our strategic plan, we have identified Quebec as an area for our future expansion. With its long history of operations, acquiring Le Nordais should provide us with a smooth entrance into the Quebec market, along with an immediate opportunity for growth.
