Hydro Inks $4B Power Deal with U.S.

Manitoba Hydro announced a combined $4 billion power sale Wednesday to two American utilities.

A 15-year deal with Minnesota Power will see the utility acquire 250 megawatts of power from 2020 to 2035, while Wisconsin Public Service will receive 100 megawatts between 2021 and 2027. Negotiations are ongoing to expand the Wisconsin sale to 500 megawatts.

The sale to Minnesota Power will provide increased export capability and reliability benefits for Manitoba, while the deal with Wisconsin Public Service would require construction of the Conawapa Generating Station to accomodate the additional megawatts currently being negotiated.

Both sale agreements will require regulatory approval in Canada and the United States.