Closure of the deal depends on the negotiation of a purchase agreement and the consent of the counter parties involved. If the US$118M sale is approved, TransCanada will acquire Hydro Investment Corporation, which indirectly owns the 50MW Mamquam plant, a run of the river scheme located some 50km from Vancouver, and the 6MW Queen Charlotte facility on Moresby Island, both of which sell all their electricity to the British Columbia Hydro and Power Authority.
In a separate announcement, TransCanada Power has approved the purchase of the 60MW Curtis Palmer facility in Corinth, New York, US from TransCanada Corporation, details of which were first announced in March.
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