Innergex 25.3 MW Boulder Creek Hydroelectric facility begins commercial operation

Innergex Renewable Energy owned 25.3 MW Boulder Creek hydroelectric facility (run-of-river) located in British Columbia, has begun commercial operation. Innergex owns a 66.7% interest in the hydro facility and Ledcor Power Group Ltd. owns the remaining 33.3%.

The facility is part of the Upper Lillooet River Hydro Project which includes two run-of-river clean energy generation facilities located in the Pemberton Valley: Upper Lillooet River (81.4 MW) and Boulder Creek (25.3 MW). Innergex, in addition to owning 66.7% of the common shares of these two hydroelectric facilities, holds 100% of the preferred shares and therefore receives almost all of the cash flows generated by these facilities.

Michel Letellier, President and CEO of the Corporation said that they are extremely proud to announce the commissioning of the Boulder Creek hydroelectric facility, their 18th hydroelectric facility in British Columbia (“BC”). BC is blessed with an abundance of hydro resources that remain largely untapped and their track record shows that when developed properly, they can generate clean and affordable electricity for British Columbians while helping the province and the country achieve their climate change goals. He further added that this project could not have been done without the expertise and commitment of their dedicated and passionate team who overcame many challenges to ensure the successful completion of this project.

Boulder Creek’s average annual production is estimated to reach 92,500 MWh. In its first full year of operation, it is expected to generate revenues and Adjusted EBITDA of approximately $9.0 million and $7.5 million.

Image: Boulder Creek Hydroelectric facility (Source: Innergex)