Leading Advisors in Project Finance

  • Operis Reviews Portage Power Operating Model

    19 September 2019

    Portage Power, a wholly-owned subsidiary of Hydro Ottawa Holding Inc., acquired the Chaudière Hydro North LP (CHN LP) and Hull Energy LP run-of-the-river hydroelectric facilities in 2012 and 2016, respectively. The facilities, located on the north side of the Ottawa River at Chaudière Falls, have a combined output of 39 MW and were shut down in 2018 to undergo a planned refurbishment. Once energized in 2020, these plants will generate enough clean energy to power approximately 27,000 homes and reduce carbon dioxide emissions by about 155,000 tonnes each year.

    Operis was pleased to carry out a review of an operating financial model prepared by Scotia Capital Inc. in connection with the financing of the refurbishments of the CHN LP and Hull Energy LP plants. Operis reviewed the calculations within the model as well as verified that the assumptions and projections were in line with extracts of the project and financing documentation.


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