Innergex Renewable Energy has begun commercial operation of the 40.6 MW Big Silver Creek run-of-river hydroelectric facility located in British Columbia.
"We are proud to have commissioned our 43rd facility, reinforcing our leadership position among independent power producers in British Columbia and in Canada, with a gross installed capacity totalling 1,359 MW" stated Michel Letellier, President and Chief Executive Officer of the Corporation.
The 40.6 MW Big Silver Creek hydroelectric facility is located on public land, approximately 40 km north of Harrison Hot Springs, British Columbia. Construction began in June 2014 and was completed in July 2016, earlier than expected and within the budget. The COD certificate has been approved by BC Hydro with an effective commissioning date of July 29, 2016.
Big Silver Creek's average annual production is estimated to reach 139 800 MWh, enough to power more than 12,700 households. In its first full year of operation, it is expected to generate revenues and Adjusted EBITDA of circa $18.0 million and $15.0 million respectively. All of the electricity it produces is covered by a 40-year fixed-price power purchase agreement with BC Hydro, which was obtained under that province's 2008 Clean Power Call Request for Proposals and which provides for an annual adjustment to the selling price based on a portion of the Consumer Price index.