Plutonic said the four run-of-river projects – at Algard Creek, East Orford River, North Orford River and ‘Elliot neighbour’ Creek – will generate about 362GWh annually.
The projects take the company’s development portfolio to 29 schemes with a total capacity of more than 1.4GW, and which should be able to generate 4800GWh per year.
The first projects are Montrose Creek and East Toba, which will have a total capacity of 196MW. Construction is due to start mid-year and take three and a half years to build.
Financial backing of the schemes comes from GE Energy Financial Services, which is investing Can$112M for a 49% ownership stake and 60% economic interest in the schemes. In addition, it is co-leading debt financing for Can$466M with Manulife Financial. Plutonic expects financial closure on the projects in June.
