TERRACE, B.C. – The British Columbia Utilities Commission (BCUC) has officially accepted 10 energy purchase agreements from BC Hydro’s 2024 Call for Power, a decision that will bring a new wave of clean energy development and historic levels of First Nations ownership to the province.
The approved projects, which include nine new wind farms and one solar installation, are expected to provide approximately 4,830 gigawatt hours of energy per year. This represents an 8 per cent increase in BC Hydro’s current supply, enough to power half a million new homes across British Columbia.
After a public and transparent review process, the BCUC found that the energy purchase agreements are in the public interest. The commission deemed the procurement process to be fair and competitive, noting that the average bid price of $74 per megawatt hour is approximately 45 per cent lower than similar contracts awarded in 2010.
Historic First Nations Equity and Economic Impact
A key component of the projects is their significant First Nations involvement. All 10 projects include First Nations equity partnerships, with the majority of the projects having First Nations ownership ranging from 49 to 51 per cent. This represents a landmark achievement in economic reconciliation, translating to an estimated $2.5 to $3 billion in First Nations asset ownership. The BCUC’s review also confirmed that BC Hydro had adequately consulted with the First Nations potentially affected by the projects.
The development and construction of these new energy facilities are projected to attract between $5 billion and $6 billion in private capital investment. The construction phase alone is expected to create up to 1,500 jobs annually across various regions of the province, with projects located from the Central Interior to the North Coast, directly impacting rural and Indigenous communities.
Energy deliveries from the projects are expected to begin in fiscal year 2031, providing a new source of clean and renewable electricity to help meet B.C.’s growing energy demands. The BCUC’s decision aligns with the province’s long-term goals of achieving energy self-sufficiency with electricity generated from 100% clean or renewable sources.
