OTTAWA, Nov. 22, 2012 /CNW/ - Hydro Ottawa has completed the purchase,
first announced in June 2012, of three hydroelectric plants and a 38.3
percent interest in the Ring Dam and remaining water rights at
Chaudière Falls from Domtar Corporation for $46 million.
"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," said Hydro Ottawa President and CEO Bryce Conrad.
"The Chaudière Falls generating stations have powered Ottawa's
industrial expansion for over a century," said OttawaMayor Jim Watson.
"What many people don't know is that Canada's oldest surviving
hydroelectric facility still operates right here in the nation's
capital."
Prior to the purchase, Hydro Ottawa already had over 100 years of
experience operating hydroelectric plants at Chaudière Falls, where it
owns and operates three plants, with Generating Station #2 originally
built in 1891 and Generating Station #4 built in 1900. Both stations
have been refurbished.
With the closing of the purchase of the three hydroelectric stations
from Domtar, Hydro Ottawa's hydroelectric generating capacity will more
than double to 38 megawatts, enabling the company to generate enough
clean, renewable energy to meet the annual needs of 28,000 households.
Another benefit of the acquisition is that the Chaudière Falls site is
one of the largest remaining hydroelectric sites available in Ontario,
with an expansion opportunity that could see Hydro Ottawa's
hydroelectric capacity grow to 60 megawatts.
The acquisition is a key part of Hydro Ottawa's strategic plan to pursue
growth opportunities that benefit its customers, its shareholder - the
City of Ottawa - and the environment. Hydro Ottawa is the largest
municipally-owned producer of green power in Ontario.
About Hydro Ottawa
Hydro Ottawa Holding Inc. (Hydro Ottawa) owns and operates two
subsidiary companies, Hydro Ottawa Limited and Energy Ottawa Inc.
Hydro Ottawa Limited is the third-largest municipally-owned electrical
utility in Ontario, serving more than 305,000 customers in the City of
Ottawa and the Village of Casselman. Energy Ottawa Inc., the largest
municipally-owned producer of green power in Ontario, generates
renewable energy and provides commercial energy-management services.
SOURCE: Hydro Ottawa Holding Inc.