AltaGas’ strategy is to build, own and operate long-life, low-risk power infrastructure assets to deliver strong, stable returns for investors. Growth is focused on clean and renewable sources of energy, which will allow AltaGas to be more diversified, stable and prosperous as the Company seeks to capitalize on increasing demand for clean power while reducing its carbon footprint.
Our operational portfolio includes the 102 MW Bear Mountain Wind Park near Dawson Creek, British Columbia, a 97 percent interest in the 9.8 MW McNair run-of-river hydroelectric generation facility located near Port Mellon, B.C. and a 25 percent effective interest in a 7 MW run-of-river hydroelectric generation facility near Boston Bar, B.C.. We also have a 30 percent working interest in a 37 MW wood biomass power facility in Michigan and a 50 percent working interest in a 48-MW wood biomass power facility in North Carolina.
AltaGas’ 195 MW Forrest Kerr run-of-river hydroelectric project is under construction while AltaGas’ McLymont Creek, with a targeted output of 66 MW, and Volcano Creek, with a targeted output of 16 MW, run-of-river hydroelectric projects are going through environmental assessment processes. The three projects, collectively known as the Northwest Projects, are located in northwestern B.C. and are supported by Electricity Purchase Agreements with BC Hydro and Impact Benefit Agreements with the Tahltan Nation. We also have a 50 percent working interest in a 29 MW wind farm in Colorado which is expected to be completed in late 2012 and a 60 percent interest in a 6 MW waste heat recovery project in Sparwood, B.C. which is expected to be in service in third quarter 2012.