Alterra Power Corp. (TSX: AXY) and the Klahoose First Nation announced May 12 that they have signed a memorandum of understanding (MOU) under which they will work together to develop the 15-MW Tahumming River hydroelectric project, which is located near the Toba Montrose and Jimmie Creek projects of Alterra in the traditional territory of the Klahoose in British Columbia.
The parties plan to submit the project into BC Hydro and Power Authority‘s Standing Offer Program upon completion of the project’s environmental assessment certificate.
Klahoose Chief James Delorme said: “This agreement between the Klahoose First Nation and Alterra builds on our Toba Montrose and Jimmie Creek agreements and represents another significant milestone for our nation. The Klahoose First Nation supports quality green energy development in our traditional territories, achieved with a partner that is respectful of our land, our culture and our people.”
Jay Sutton, Alterra’s Vice President, Hydro Power said: “We value our relationship with the Klahoose First Nation and are grateful for their continued support of run-of-river hydro projects in their traditional territory. We look forward to working together on a third environmentally responsible project in the Toba Valley that will benefit the Klahoose First Nation and all British Columbians.”
Alterra Power operates five power plants totaling 553 MW of generation capacity, including British Columbia’s largest run-of-river hydro facility and largest wind farm, and two geothermal facilities in Iceland. Alterra owns a 247 MW share of this capacity, generating over 1,250 GWh of clean power annually. Alterra also has two new projects under construction:
- Jimmie Creek – 62-MW run-of-river hydro project British Columbia, which is adjacent to its existing Toba Montrose facility and expected to be in operation by the third quarter of 2016. It 51% owned by Alterra.
- Shannon – 204-MW wind project located in Clay County, Texas, that is expected to be in operation by the fourth quarter of 2015. It is 100% owned by Alterra, with plans to bring in a partner to take on 50% of that ownership.
Upon completion of these two projects Alterra will operate seven power plants totaling 819 MW of capacity and will own a 381 MW share of this capacity, generating over 1,700 GWh of clean power annually.