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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Erwan Fournis
Global Head of Financial Advisory

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Carmen Wade
Financial Advisory, Head of North America

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Jun Tao
Global Head of Model Audit & Financial Modelling

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Mark Southall
Associate Director - Model Audit & Financial Modelling

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Operis North America

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Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

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Chris Aldred
Director

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