Sorgent.e Hydro Canada announced on Thursday that it had signed a 40-year standing offer program electricity agreement with BC Hydro for its Serpentine Creek hydro project.
The agreement was signed through Sorgent.e’s subsidiary, Serpentine Hydro Power.
The Serpentine run-of-the-river project will have a capacity of 10.5 MW and is located 35 km north of Blue River.
The electricity purchase agreement, along with one signed for Clemina project two months ago, kicks off the pre-construction activities for these renewable generation facilities the will foster energy reliability and economic development of the region.
The Clemina run-of-river project would have a total capacity of 10.5 MW and is located about 30 km south of Valemount.
The standing offer base price for both projects will be $104.39/MWh.
According to the company, the Serpentine and Clemina projects will create a flow of benefits to Simpcw First Nation and local communities, maximizing the social, environmental and economic impact of these new developments. With the addition of Serpentine and Clemina, Sorgent.e, Simpcw, BC Hydro, and North Thompson Valley and all the involved stakeholders will further contribute to achieving global climate action goals.
Sorgent.e Hydro Canada is part of the Italian group Sorgent.e Holding that has operated in the clean energy sector since 1995. Sorgent.e Holding owns and operates more than 20 renewable plants in Europe and South America.