10 projects in B.C. Hydro's 2024 call for independent power pass B.C. Utilities Commission review

B.C. Hydro’s 2024 Independent Power Projects Clear Regulatory Hurdle

Ten projects in B.C. Hydro’s 2024 call for independent power proposals have successfully cleared a regulatory hurdle with the B.C. Utilities Commission’s acceptance of their energy purchase agreements with B.C. Hydro.

Last December, Hydro unveiled the successful bidders, which include one solar power project and nine wind farms with the capacity to produce more than 4,800 gigawatt hours of electricity per year. The agreements were subject to a review by the commission, which concluded on July 8 after several extensions to address comments around the consultation with First Nations.

The commission’s review panel recently announced that the energy purchase agreements are in the public interest under the terms of the commission’s legislation. The contracts reflect 30-year terms with average prices of $74 per megawatt hour.

The projects, valued between $5 billion and $6 billion in capital investment, are expected to create up to 1,500 jobs, with significant First Nations ownership in the 10 projects. This commitment reflects B.C. Hydro’s dedication to economic reconciliation and building strong relationships with Indigenous communities.

While the commission panel found that B.C. Hydro had adequately consulted with Indigenous communities, there are still instances where a First Nation’s land claims overlap with those of the First Nations with equity partnership. These issues will need to be addressed during the detailed permitting process overseen by the B.C. Energy Regulator.

In total, the electricity from the 10 projects would be sufficient to power almost 500,000 homes. Hydro aims to add 700 gigawatt hours of power per year before 2029, with the remainder to be online by 2033.

For more information, contact depenner@postmedia.com.

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