Fortis completes sale of 51% share in 335 MW hydroelectric project in Canada

Fortis Inc. has completed the sale of its 51% interest in the 335-MW Waneta Expansion Hydroelectric Project in British Columbia, Canada, to Columbia Power Corporation (CPC) and Columbia Basin Trust (CBT) for about CAD1 billion (US$743 million).

The Waneta Expansion facility was completed in 2015. The plant is located near the Waneta Dam on the Pend d’Oreille River, and electricity generated is sold to BC Hydro and FortisBC under a 40-year power purchase agreement.

CPC and CBT now own 100% of the Waneta Expansion. FortisBC will continue to operate the Waneta Expansion facility and purchase its surplus capacity.