Hydro Ottawa expands hydroelectric portfolio to 38MW
Canadian municipally-owned electrical utility Hydro Ottawa has completed the acquisition of three hydroelectric plants and a 38.3% stake in the Ring Dam besides water rights at Chaudière Falls from Domtar Corporation for a total consideration of $46m.
The acquisitions will increase the utility's hydroelectric generating capacity to 38MW and help generate enough electricity to power 28,000 homes in the region and is part of its strategy to increase its consumer base.
Hydro Ottawa president and CEO Bryce Conrad remarked, "This presents a tremendous opportunity for Ontario to add 21 megawatts of renewable run-of-the river hydro power, with the potential to expand that to more than 40 megawatts as we explore additional opportunities at this site,"
Chaudière Falls facility has the option for expansion that could potentially increase Hydro Ottawa's hydroelectric portfolio to 60MW.
Ottawa Mayor Jim Watson added that the Chaudière Falls are also of historic importance having powered the region's industrial expansion for well over a century.
Hydro Ottawa is the one of the largest municipally-owned producer of green power in Ontario, Canada and the acquisitions further its hydroelectric footprint.