BBGI Global Infrastructure S.A. has completed an investment in InPower BC General Partnership, the entity responsible for delivering the John Hart Generating Station Replacement Project in Canada. The company said it made the CA$41 million investment through its existing strategic partnership with SNC-Lavalin Group Inc.
The public-private partnership project consisted of the design, construction, financing, maintenance and rehabilitation of a new three-turbine, 132MW hydroelectric power generation station on the Campbell River, British Columbia, including a three generating unit underground powerhouse, 2.1km of water passage tunnels and a water bypass system to protect downstream fish habitat. The new infrastructure replaces the outdated aboveground facilities which were built in 1947 with a more reliable, seismically robust and environmentally friendly facility. The project is Canada's first public-private partnership project in the hydropower sector.
Service commencement was achieved in 2019 and the concession runs until 2033.
"We are delighted to complete this high-quality availability-based infrastructure investment with strong ESG credentials,” commented Co-CEOs Duncan Ball and Frank Schramm. “Our strategy is to remain disciplined and selective in our approach to acquisition opportunities by only investing in availability-based assets that also align with our ESG principles, and not in higher risk infrastructure asset classes."
