CIB commits USD 64m to hydro expansion project in western Canada

June 6 (Renewables Now) - The Canada Infrastructure Bank (CIB) has committed CAD 80 million (USD 63.7m/EUR 59.3m) towards the construction of a 9.2-MW hydropower plant (HPP) and a 93-km transmission line that will be beneficial to First Nation communities and municipalities across Yukon Territory.

The funding will support the Atlin Hydroelectricity Expansion project, which will be built and owned by Tlingit Homeland Energy LP, in turn, fully owned by the Taku River Tlingit First Nation.

According to an announcement from February 2022, the total cost of the project is estimated at about CAD 206 million. Apart from the new HPP, the scheme includes the construction of a transmission line between Atlin, British Columbia and Jakes Corner, Yukon, as well as a substation and upgrades to the ATCO transmission line between Jakes Corner and Whitehorse.

“Funding the Atlin Hydroelectric Expansion will deliver clean power to the Yukon microgrid, which will reduce the use of diesel fuel across the Yukon Territory,” said Dominic LeBlanc, Minister of Intergovernmental Affairs, Infrastructure and Communities.

The Yukon Government, British Columbia Government, Environment and Climate Change Canada, Canadian Northern Economic Development Agency and Crown Indigenous Relations and Northern Affairs Canada are also taking part in the financing of the project.

(CAD 1.0 = USD 0.796/EUR 0.741)