Run of River Power

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Run of River Power
Public company
Traded as TSX-VROR
Industry Electric generation
Genre Independent Power Producer
Founded 2005
Headquarters Delta, British Columbia, Canada
Key people
Richard Hopp, President & CEO
Total assets C$33.24m
Subsidiaries Northwest Cascade Power
Rockford Energy Corp.
Sea to Sky Power Corp.
Pacific Northwest Biomass Corp.
Website www.runofriverpower.com

Run of River Power or ROR Power is a Canada-based energy company. It develops renewable, sustainable energy through its portfolio of run-of-river and biomass projects in British Columbia.

History[edit]

Listing on TSX Venture Exchange[edit]

In June 2005, Run of River listed on the TSX Venture Exchange by conducting a private placement of 14.8m shares at $0.60/share to raise $8.9m. These funds, and a $13m loan from Industrial Alliance Insurance and Financial Services, were used to purchase a 90% interest in Rockford Energy, which included the Brandywine Creek facility and five other nearby projects, from Ledcor Power.[1]

Power Projects[edit]

Operational Projects[edit]

Brandywine Creek (8MW, 34-40GWh/yr)[edit]

This project was awarded a 20-year power purchase agreement in BC Hydro's 2001 Call for Green Energy Projects.[2] Construction work was carried out in less than one year by Ledcor Power and the project was commissioned in May 2005.[3] Capital costs were originally estimated at $11m, but additional fish studies and agreements with local government and First Nations inflated costs to $14m.[4]

Annual revenues have been estimated at roughly $2.2m for a total of “around $50 million” over 20 years.[5] However, according to a 2008 report, Run of River’s Brandywine project is “money-losing”.[6]

Development Projects[edit]

Skookum Power Project (25MW, 68GWh/yr)[edit]

A 40-year PPA was awarded to Run of River Inc. in 2008 Call.[7][8] Current plans call for construction of the $94m project to begin in 2012 and commissioning in Jan 2014.[9]

Upper Pitt River (155MW)[edit]

This project, proposed by Run of River’s subsidiary Northwest Cascade Power Ltd., included seven generation facilities and a 42 km transmission line that would have passed through Pinecone Burke Provincial Park.[10] Capital costs were estimated at $350m.[11]

The proposal reached the pre-application stage of British Columbia's Environmental Assessment process before being terminated by Environment Minister Barry Penner, who refused to redraw park boundaries in order to accommodate the required transmission line.[12] While Run of River’s management and the local First Nation were united in their opposition to this decision, the firm is currently seeking an alternative transmission route.[13][14]

See also[edit]

References[edit]

  1. ^ Healy Capital Corp. Press Release – 21 June 2005
  2. ^ http://www.runofriverpower.com/id/14
  3. ^ http://www.bchydro.com/planning_regulatory/acquiring_power/green_ipps/project_updates/brandywine_creek.html
  4. ^ Vancouver Sun – 30 August 2002
  5. ^ Healy Capital Corp. Press Release – 21 June 2005
  6. ^ Vancouver Sun – 24 March 2008
  7. ^ http://dcnonl.com/article/id38251
  8. ^ http://www.runofriverpower.com/pages/our-projects.php
  9. ^ Run of River Power Press Release - 6 May 2010
  10. ^ Vancouver Sun - 8 January 2010
  11. ^ Vancouver Province - 27 May 2008
  12. ^ Vancouver Sun - 27 March 2008
  13. ^ Vancouver Province - 27 May 2008
  14. ^ Run of River Power Inc. Q2 2010 Report

External links[edit]