Manitoba Hydro inks $100M deal with SaskPower
Manitoba Hydro begins $100M energy deal with SaskPower to be followed by bigger deal in 2020
Manitoba Hydro has signed a deal that will sell $100 million worth of electricity to Saskatchewan over the next eight years.
The deal is just the start of a larger, longer-standing deal between Manitoba Hydro and SaskPower planned in the next several years.
Officials said the eight-year sale will be followed by a 500 megawatt purchase to be completed after 2020.
The deal is the single-largest power sale agreement between Manitoba and Saskatchewan.
The two energy giants have signed a memorandum of understanding which is in line with Manitoba Hydro’s expansion goals, according to CEO Scott Thomson.
The two provinces already have an existing power deal, but this new sale is in addition to the one already in place.
Thomson said in a release Manitoba Hydro also plans to go ahead with a proposed number of dam and transmission line projects.