The Canadian Press · Posted: Jul 29, 2019 9:30 PM PT | Last Updated: July 30
AltaGas' 195-MW Forrest Kerr Hydroelectric Facility is seen in this undated handout photo. The Tahltan First Nation says it has signed a deal to buy into a trio of hydro projects in its territory in what it says is the largest ever renewable investment by a First Nation in British Columbia. (The Canadian Press/HO, AltaGas Ltd)
The Tahltan purchased a portion of Northwest British Columbia Hydro Electric Facilities for more than $124 million from Axium Infrastructure Canada and Manulife Financial Corporation, Day said in a phone interview.
The power-generating facilities include run-of-the-river projects, Forrest Kerr, McLymont Creek and Volcano Creek, which produce electricity sold to BC Hydro, the province's Crown-owned energy utility.
"All three projects have been up and running for multiple years. There's a 60-year water licence on these projects with BC Hydro, so there's about 57 years left," said Day, who expected the licences will be renewed once their terms expire.
"These were projects that didn't require a dam or any major destruction to the environment," Day said.
The Tahltan Nation said in a statement its territory is home to three of B.C.'s 19 operating mines and represents about 25 per cent of current mining exploration activities in the province.
The Canadian Press · Posted: Jul 29, 2019 9:30 PM PT | Last Updated: July 30
AltaGas' 195-MW Forrest Kerr Hydroelectric Facility is seen in this undated handout photo. The Tahltan First Nation says it has signed a deal to buy into a trio of hydro projects in its territory in what it says is the largest ever renewable investment by a First Nation in British Columbia. (The Canadian Press/HO, AltaGas Ltd)
The Tahltan purchased a portion of Northwest British Columbia Hydro Electric Facilities for more than $124 million from Axium Infrastructure Canada and Manulife Financial Corporation, Day said in a phone interview.
The power-generating facilities include run-of-the-river
 projects, Forrest Kerr, McLymont Creek and Volcano Creek, which produce electricity sold to BC Hydro, the province's Crown-owned energy utility.
"All three projects have been up and running for multiple years. There's a 60-year water licence on these projects with BC Hydro, so there's about 57 years left," said Day, who expected the licences will be renewed once their terms expire.
"These were projects that didn't require a dam or any major destruction to the environment," Day said.
The Tahltan Nation said in a statement its territory is home to three of B.C.'s 19 operating mines and represents about 25 per cent of current mining exploration activities in the province.