Current Operations
Facilities which were developed or acquired by Synex Energy:
Mears Creek Hydro Project
Located on Vancouver
Island near Gold River, this 4 MW "green" energy
project was commissioned in January 2004 at a capital cost under $7 million,
and now provides energy to the integrated grid under the terms of a 20 year
Electricity Purchase Agreement with BC Hydro.
Kyuquot Grid Connection and Utility
Kyuquot Power Ltd., a wholly owned subsidiary of Synex Energy, completed
construction of the powerline to Kyuquot on Vancouver Island in May 2006
at a cost of $3.8 million. Kyuquot Power Ltd. now operates a regulated
electrical utility serving Kyuquot and the surrounding areas. Commercial
operation commenced in May 2006.
Projects under Development
Cypress Creek Hydro Project
Located on Vancouver Island near Gold River, adjacent to the Mears Creek Hydro Project, the Cypress Project will provide 2.8 MW of “green” power. The project is under construction with an anticipated completion date in late 2007.
McKelvie Creek Hydro Project
Located near Tahsis, BC, on Vancouver Island, the McKelvie Project will provide
3.4 MW of “green” power. The project has received a water licence
and land tenure.
Barr Creek Hydro Project
Located 15 km west of Tahsis, BC, on Vancouver Island, this 4.0 MW “green” power project has signed an electricity purchase agreement with BC Hydro in August 2006.
Victoria Lake Hydro Project
Located 7 km southeast of Port Alice, BC, on Vancouver Island, this 10.0 MW “green” power project has signed an electricity purchase agreement with BC Hydro in August 2006.
Former Projects:
Facilities which were developed or acquired by Synex Energy and were subsequently sold are:
Coast Mountain Power Corp.
Synex Energy was a significant shareholder in Coast Mountain Power Corp.,
which was acquired by Novagold Resources Inc., who is developing the:
Forrest Kerr Hydroelectric Project
Located in northwestern BC, it will have an expected capacity of about 100 MW. In March 2003 the project received the Environmental Assessment Certificate. Construction has commenced.
Synex Wolverine LLC Hydro Projects
The Sanford Hydroelectric Project (3.3 MW project) situated in central Michigan
(see adjacent photo) is one of four(4) hydroelectric projects owned
and operated by Synex Energy along the Tittabawasse River that produce
a total of 11 MW. The four projects were sold in March 2006.
Brown Lake Hydro Project
This 7000 kW hydro project located 45 km south of Prince Rupert was commissioned
in December 1996 at a total capital cost of $11,900,000 and now provides
energy to the integrated grid under the terms of 20 year Electricity Purchase
Agreement with BC Hydro. The project was sold in mid 2000 but Synex Energy
affiliate provides operations management.
McKnight Creek Project
Located adjacent to the Brown Lake Hydro Project, the McKnight Creek Project
was constructed to provide additional water to supplement generation
at the Brown Lake Generation Station. Construction commenced in May 1997
and the Project was commissioned in March 1998.
Clayton Falls Hydro Expansion Project
This 2000 kW expansion project for the existing BC Hydro Clayton Falls power
station was placed in service in January 1992 at a total cost of $3,500,000.
The Agreement with BC Hydro provides for 240 fixed monthly payments while
BC Hydro operates the plant to maximize benefits to its isolated hydro/diesel
system. The project payments were prepaid by BC Hydro in mid 2000.
Kwadacha Diesel Power System
The mechanical and civil aspects of the 550 kW system were engineered and
administered by Synex Energy Resources affiliated company, Sigma Engineering
Ltd to supply power to Fort Ware, BC. Upon completion of construction,
Synex entered into a contract with the system owners, the Kwadacha Band,
to provide operation, maintenance and management services. BC Hydro has
assumed operation of the project in 2005.
Tsay Keh Diesel Power System
On the basis of its proven ability and reputation developed in Fort Ware,
Synex was recommended to the Tsay Keh Dene for the operation and maintenance
of their community power system in Tsay Keh, BC. BC Hydro has assumed
operation of the project in 2005.
Yoho Power Ltd
Synex Energy acquired this 500 kW, regulated diesel generation utility system
located in Field, BC from the sale of assets by the Northern Canada Power
Corporation (NCPC) in 1987. In February 1997, substantially all of the
assets of the company were sold based upon the decision by BC Hydro to
extend its grid from the community of Golden, BC.
Moses Hydro Project
This 75 kW hydro project, serving a 70 man logging camp was placed in service
on August 1, 1985. An agreement originally with Fletcher Challenge Ltd
(Crown Forest) and since assigned to International Forest Products Ltd
provided for escalating lease payments to May 1, 1995 with a mandatory
buyout payment of $100,000 on August 1, 1995.
Strathcona Hydro Project
This 75 kW hydro project was placed in service during 1988 and has been supplying
electricity to the Strathcona Lodge since that time excepting for the
annual shutdown of the plant during low water conditions. As of November
1, 1990, Synex Energy purchased the plant and entered into a 20-year
lease agreement with Strathcona Lodge providing for fixed monthly payments.
The agreement was bought out by the Lodge in October 1993.
Holberg Grid Connection
This 50 km power line was completed by Synex Energy in July 1986 at a cost
of $2.8 million. The project involved a unique approach, whereby Synex
Energy successfully combined available sources of funding to provide
a powerline that provided immediate energy savings to the customers.
Equity finance was provided by the customers (National Defence/Western
Forest Products Ltd/Transport Canada), BC Hydro and Synex Energy while
the Swiss Bank Corporation (Canada) provided the debt funding in the
amount of $1,000,000 by a term loan to Synex Energy which was repaid
over a 4-year period to match the project lease period.