Canadian electricity generation company TransAlta has agreed to acquire a 50% interest in an early-stage 320MW pumped-hydro energy storage project in Canada. The Tent Mountain Renewable Energy Complex is located in south-west Alberta and is currently owned by Montem Resources. TransAlta will pay Montem around $8m upon completion of the deal, as well as up to $17m if certain development and commercial ‘milestones’ are met.
Final bill for runaway Nova Scotia Power hydro project still months away
Nova Scotia Power says it will take at least another five months for it to submit the final bill to complete an ill-fated refurbishment of the Tusket hydro electricity dam in Yarmouth County. The project is already three years behind schedule with costs still unclear and revised construction plans still needing environmental permits. The last cost estimate was $36 million — twice the amount approved by regulators in 2019. The dam site in southwestern Nova Scotia has been plagued by water leaking into the construction zone.