Canadian developer Plutonic Power Corp and its finance partner GE Energy Financial Services have signed a fixed price contract with Peter Kiewit Sons Co to build the 196MW East Toba/Montrose Creek projects.
The engineer, procurement and construction (EPC) contract is valued at Can$500M (US$499.8M). While access road and bridge construction started in July, the new contract enables further works to proceed for completion of the project with the two power plants – the 123MW East Toba and 73MW Montrose Creek.
In a statement, Donald McInnes, president of Plutonic, said: ‘Execution of the EPC contract is a significant milestone for the Toba Montrose General Partnership as it provides price, date and performance certainty for our lenders, stakeholders and members of the community.’
He added: ‘Kiewit has an exceptional reputation in building utility-scale run-of-river projects in environmentally sensitive areas.’
Separately, Kiewit has agreed a contract with va-tech Hydro to build 14 turbine-generators and supply intakes and governors for two power plant groups in British Columbia.
Plutonic has a portfolio of 34 hydro projects in various stages of development with a total design capacity of 1.7GW to generate approximately 5500GWh per year. The Toba/Montrose scheme is the most advanced.