Alterra Power Corp., a Vancouver-based renewable-energy developer, agreed to buy the 49 percent of a Canadian run-of-river hydroelectric project that it doesn’t already own from General Electric Co. (GE:US)
That will make Alterra the sole owner of the 62-megawatt Jimmie Creek project in British Columbia, the company said today in a statement. Terms weren’t disclosed.
Construction is expected to begin in the first half of next year. BC Hydro will purchase the electricity under a 40-year contract beginning in August 2016.
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