Municipally-owned electrical utility Hydro Ottawa has purchased three hydroelectric plants in Ottawa, Canada from Domtar Corporation.
The acquisition also includes a 38.3% stake in the Ring Dam and remaining water rights at Chaudière Falls and entails a payment of $46m to Domtar.
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The purchase increases Hydro Ottawa’s hydroelectric portfolio to 38MW, enabling the production of enough renewable energy to power 28,000 households every year.
The acquisition is part of the company’s long term plan to expand its hydroelectric portfolio.
Hydro Ottawa president and CEO Bryce Conrad stated, “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.”
Ottawa Mayor Jim Watson said that the Chaudière Falls generating stations have supplied power to Ottawa’s industrial expansion for more than 100 years.
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By GlobalData“What many people don’t know is that Canada’s oldest surviving hydroelectric facility still operates right here in the nation’s capital,” Watson added.
The Chaudière Falls site is one of the largest remaining hydroelectric sites available in Ontario and has the potential to enhance Hydro Ottawa’s hydroelectric capacity to 60MW.
