Alaska Hydro Corporation
Alaska Hydro Corporation
2633 Carnation Street North Vancouver, British Columbia V7H 1H6
604 929-3961
Sector: Industrial
Description
Alaska Hydro Corporation, incorporated in 2006, deals in renewable hydroelectricity generation.
The company reportedly focuses on growth opportunities in the Northern British Colombia as several new LNG plants and mines are being developed, which presents a demand for sustainable and reliable power supply. It further claims that the Northwest Transmission line does not have enough capacity to meet the potential demand for electricity and expects to cease the significant future opportunities in the region.
It is listed as Tier 2 industrial issuer on the NEX Board of TSX Venture Exchange, where the stocks trade under the quote of ‘AKH.H’.
The power producing firm was incorporated as Project Financial Corp on October 16, 2006, as capital pool company.
However, in 2010, the company rebranded itself as Alaska Hydro Corporation.
The energy company is focused on developing its flagship asset, More Creek Hydroelectric Project.
It claims that the proposed hydroelectricity project will be located on More Creek that flows into the Iskut River. It is 95 kilometers away from Alaskan border and roughly 130 kilometers from Stewart, BC.
The water storage reservoir’s estimated size is expected to 3000 hectares with usable volume capacity of 870 million cubic meters.
The independent power producer says that the project will also be connected with year-round access to roads and highways along with a bridge across the Iskut River.
In September 2010, the firm acquired Alaska-based Cascade Creek, LLC, following Cascade become a wholly owned subsidiary. In addition, the company also renamed itself as Alaska Hydro Corp effective September 3, 2010. The company issued over 22 million common shares and approximately 6,238,542 special warrants to Cascade unitholders.
Reportedly, the Cascade Creek Project has a plant capacity of 70 megawatts. The energy firm reportedly earns majority of revenue from sale of electricity and related business across Canada.
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