Detailed case study of the John Hart Generating Station Replacement Project, the 2014 National Gold Award for Project Financing winner.
Once completed in 2018, this $1.1 billion project to replace the 68-year-old John Hart Generating Station will increase the generating station’s annual power output by almost 10 per cent, as well as improve earthquake preparedness and reliability and address environmental concerns; the innovative underground powerhouse will enhance public safety and improve the facility’s environmental footprint in Vancouver Island’s Elk Falls Provincial Park. Financing for this project is a unique combination of a sole equity provider and debt financing made up of a short-term loan, $299 million senior bonds, with an average life of 13 years, and payments from BC Hydro.
This 29-page case study provides details on the elements that made this project the 2014 National Gold Award for Project Financing winner. Information on the project includes: quick facts, procurement process, structure of the agreement, financial arrangements, risk allocation, benefits, communications, labour, monitoring, innovative features, testimonials and partner contacts.
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