Vancouver and Calgary advise on acquisition of Waneta Expansion from Fortis
January 31, 2019
Client: Columbia Power Corporation
Our Vancouver and Calgary offices are advising Columbia Power Corporation (CPC) and Columbia Basin Trust (CBT) on their acquisition from Fortis of 51% of the Waneta Expansion hydroelectric power project for approximately C$1bn. CPC and CBT already own 49% of the project.
The Waneta Expansion is a newly constructed 335 MW hydroelectric generating facility located in the Columbia Basin region of southeastern British Columbia. It commenced commercial operation in April, 2015.
Subject to receipt of required regulatory approvals and third party consents, the transaction is expected to close in April 2019.
The team includes Greg Lewis (M&A), Steve Sharpless (M&A), Andrea Lejay (M&A), Dion Legge (tax), Chris Speakman (tax), Riley Burr (tax), Darren Hueppelsheuser (tax), Elisabeth Trotter (tax), Rav Sidhu (tax), Etienne Godel (tax), Dan Bennett (disputes), Louise Hamill (disputes), Alex Fane (real estate) and Rujuta Patel (competition).