Congratulations to Travelers Capital Corporation for successfully arranging a $61 million of non-recourse project financing for Box Canyon Hydro Corporation (“BCHC”), an affiliate of Elemental Energy Inc. which owns the 16 MW run-of-river hydro project located approximately 10.5 km northeast of Port Mellon, on the west shore of Howe Sound, British Columbia (40 km NNW from Vancouver, BC). Box Canyon is in the Traditional Territory of the Squamish Nation, a partner on the project. The project was developed by Elemental Energy, a Vancouver based renewable energy investor and developer and Sound Energy Inc. The project will use the waters of Box Canyon Creek, Marty Creek and Cascara Creek to generate and sell 100% of their output to British Columbia Hydro and Power Authority under a 40-year electricity purchase agreement.
To read the complete news announcement via CNW, please click here.