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 Chaudiere Falls from Domtar Corp. for $46 million.
Prior to the purchase, Hydro Ottawa already had over 100 years of experience operating hydroelectric plants at Chaudiere Falls, where it owns and operates three plants, with Generating Station No. 2 originally built in 1891 and Generating Station No. 4 built in 1900.
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 MW, 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 Chaudiere 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 MW.
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.