A consortium composed of Axium Infrastructure and Manulife Financial Corp. has acquired a 35 percent indirect equity interest in the Northwest British Columbia Hydroelectric Facilities from AltaGas.
Located in Tahltan First Nation territory, the facilities consist of the Forrest Kerr Hydroelectric facility (installed capacity of 214 megawatts), which achieved commercial operation in October 2014; the Volcano Creek Hydroelectric facility (installed capacity of 17 megawatts), which achieved commercial operation in December 2014; and the McLymont Creek Hydroelectric facility (installed capacity of 72 megawatts), which achieved commercial operation in October 2015. The facilities are supported by three separate 60-year, fully indexed electricity purchase agreements with BC Hydro.
AltaGas will remain the majority owner of the facilities and will continue providing all operations, maintenance and management functions.
