THE DASQUE/middle Creek run of river hydro-electric project

Hydro-electric project sold near Terrace, B.C.

Ownership passes from one Calgary company to another

  • Mar. 2, 2017 7:00 p.m.

A CALGARY-BASED energy company has sold its Dasque-Middle Creek run of river hydro electric development just southwest of Terrace to another company also from Calgary.

The sale, announced last week by Veresen Inc. to Bluearth Renewables, is part of a series of agreements with several companies worth $1.8 billion in all on the part of Veresen to divest itself of its power generation division so it can concentrate on its larger business interests which are in natural gas liquids production and distribution.

The Dasque-Middle Creek development, rated at 20 megawatts, was one of three run of river facilities sold in B.C. by Veresen to Bluearth, a privately-held company.

Bluearth also bought three Veresen wind power developments in Ontario. A purchase price was not disclosed.

Dasque-Middle Creek got its start as a development project by a small Vancouver firm called Swift Power which was then purchased by Veresen.

The project came on full stream in early 2015 and its power is being sold to BC Hydro under a long term contract which concludes in 2053.

Construction, however, was marred early when local companies hired weren’t paid by outside main contractors. Another main contractor was brought in to complete the project.

The development is actually in two parts – 12 rated megawatts from generation facilities at Dasque Creek and 8 rated megawatts from generation facilities at Middle Creek.

Power is fed into the provincial grid by a transmission line running from the development to the nearby B.C. Hydro Skeena Substation.

Bluearth president Grant Arnold described the purchase of Dasque-Middle Creek – and the other Veresen projects – as a good fit.

“They’re very complementary to our other assets,” he said last week.

One of the attractions of Dasque/Middle Creek and the other two B.C. facilities is the long-term power sales contracts each has to B.C. Hydro, Arnold added.

The new B.C. facilities will help Bluearth position itself as an owner, operator and developer of long-term hydro, wind and solar projects, he said.

“The assets themselves are long-term, 40 or more years, and that was part of our decision making,” Arnold added.

Bluearth itself is nearly seven years old and is owned by Ontario Teachers’ Pension Plan, Canada’s largest pension plan for professionals with assets of more than $170 billion.

The Dasque/Middle Creek development comes with previously-negotiated impact benefits agreements with area First Nations, something that will continue, said Arnold.

“These are reflective of the rights First Nations have and we also have agreements with First Nations at other of our operations,” he said.

Dasque-Middle Creek is also providing revenues to three area First Nations, the Kitsumkalum, the Kitselas and the Lax Kw’alaams.

The money is from water rights royalties paid to the province, half of which goes into general revenue and half into its First Nations Clean Energy Fund and 75 per cent of that latter revenue is then divided up among affected First Nations based on traditional interests on the land on which a project is located.

How much each First Nation receives is based on a provincial formula taking in the population of a First Nation and its distance from a project.






Just Posted

Crews extinguish mobile home fire in Thornhill

No injuries reported, cause under investigation

NARA partners with Kitsumkalum to spay and neuter cats

With a $16,000 total grant, traps were set to capture 42 feral felines

Fire ban back in effect for Northwest

Starting May 24, Category 2 and 3 prohibitions in place for NW Fire Centre

Nisga’a Nation tourism board hits the road

Pilot tour to the Nass Valley is set for this summer with Indigenous Tourism BC

B.C.’s fight to regulate bitumen through pipelines to go to Canada’s top court

BC Appeal Court judges found B.C. cannot restrict bitumen flow along Trans Mountain pipeline

Scheer says it would take Conservatives five years to balance budget

Scheeraccused the Liberal government of spending $79.5 billion of previously unbudgeted funds

B.C. man, 30, arrested for driving his parents’ cars while impaired twice in one day

The Vancouver-area man was arrested after officers caught him driving impaired twice in one day

New airline regulations bring compensation for tarmac delays, over-bookings

Some of the new regulations will roll out in July, while others are expected for December.

More than half of Canadians support ban on handguns, assault rifles: study

Divide between rural and urban respondents in latest Angus Reid Institute public opinion study

Spring rain needed as B.C. sees one of the lowest snowpack levels in 40 years

Snowpack levels in B.C. recorded on May 15 were similar to those in 2015 and 2016

Theresa May to quit as party leader June 7, sparking race for new PM

The new Conservative leader will become prime minister without the need for a general election

B.C. man who fell off cliff returns there to rescue eagle from vulture attack

Nanaimo’s James Farkas, who broke his hip in a fall, saves eagle on same beach months later

Raptors beat Bucks 105-99 to move within 1 game of NBA Finals

Leonard scores 35 as Toronto takes 3-2 series lead over Milwaukee

Most Read