The company says in a release that it will purchase a two-thirds interest in the Waneta Dam from Teck Resources Limited to help keep electricity rates affordable for customers. Fortis Inc. , and Teck Resources Limited , today announced an agreement under which Fortis will purchase Teck's two-thirds interest in the Waneta Dam and related transmission assets in British... | … Fortis Inc. , and Teck Resources Limited , today announced an agreement under which Fortis will purchase Teck's two-thirds interest in the Waneta Dam and related transmission assets in … Following Teck’s big news on Friday – the company is selling its two-thirds share of the Waneta Dam to Fortis Inc. for $1.2 billion – locals are now questioning longevity and voicing concern about the future of Trail operations. Fortis to buy B.C.’s Waneta Dam from Teck Resources for $1.2B. Teck Resources Limited (Teck) has reached an agreement to sell it’s two thirds interest in Waneta Dam and related transmission assets in British Columbia, Canada, for $1.2 billion to Fortis Inc, subject to certain conditions, including a clause where minority owner BC … Fortis Inc. , and Teck Resources Limited , today announced an agreement under which Fortis will purchase Teck's two-thirds interest in the Waneta Dam and related transmission assets in British... | … The Newfoundland-based utility will buy a 66 per cent stake in the 496-megawatt hydro project that powers Teck… Payments will begin at $75 million per year and rise 2% each year, equivalent to an initial power price of $40 per MWh. The CPA mitigates hydrology risk for the Waneta Dam. B-T, TCK-N) is selling a 33% stake in its Waneta hydroelectric dam in southeastern British Columbia to BC Hydro for $825 million. To ensure the electricity continues to flow, Fortis has granted Teck Metals a 20-year lease for two-thirds of the annual electricity output. Teck’s two-thirds interest in the Waneta Dam output is defined and determined in accordance with the terms of the CPA. Teck Announces Closing of Waneta Dam Sale VANCOUVER, British Columbia, July 26, 2018 (GLOBE NEWSWIRE) -- Teck Resources Limited (“Teck”), (TSX: TECK.A and TECK.B, NYSE: TECK) today announced the closing of the sale of its two-thirds interest in the Waneta Dam in British Columbia, Canada, to BC Hydro for $1.2 billion cash. Also included in this acquisition is the Line 71 transmission line and other local transmission assets. Teck's two-thirds interest in the Waneta Dam output is defined and determined in accordance with the terms of the CPA. This line enables access to the U.S. power import/export market. The CPA mitigates hydrology risk for the Waneta Dam. VANCOUVER -- In its latest debt-reduction move, Teck (TCK. Cheap power from Waneta Dam has long been attributed to the sustainability of mining operations in Trail. Power from the Waneta Dam is used at Teck’s Trail, B.C., metallurgical complex. VANCOUVER, BRITISH COLUMBIA and ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - May 12, 2017) - Fortis Inc. ("Fortis"), (TSX/NYSE:FTS) and Teck Resources Limited ("Teck"), (TSX: TECK.A and TECK.B, NYSE: TECK) today announced an agreement under which Fortis will purchase Teck's two-thirds interest in the Waneta Dam and related transmission assets in British Columbia, Canada, for …

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