Tahltan Nation acquires British Columbia hydro stake
The Tahltan Nation has acquired a 5% share of three hydroelectric facilities in British Columbia, Canada, from Axium Infrastructure and Manulife Financial Corporation. The transaction for the 5% interest is valued at $124.3 million.
The three hydro plants are the 195-MW Forrest Kerr, the 66-MW McLymont Creek and the 16-MW Volcano Creek. AltaGas Canada owns and operates the portfolio, which is supported by three 60-year power purchase agreements with BC Hydro.
The Tahltan Nation now has a minority stake in a clean energy asset valued at over $2.5 billion, although they initially became shareholders in 2014, when they purchased a 2.7% share in Volcano Creek through a limited partnership formed by the nation.
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