Synex International Inc. () is a

Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...

, Canada, based company that has traded on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in t ...

since 1987. It is made up of two wholly owned subsidiary companies: Synex Energy Resources Ltd. (the Energy Division) and Sigma Engineering Ltd. (the Engineering Division).

Operational projects

Mears creek (4MW, 20GWh/yr)

BC Hydro The British Columbia Hydro and Power Authority, operating as BC Hydro, is a Canadian electric utility in the province of British Columbia. It is the main electricity distributor, serving more than 4 million customers in most areas, with the excep ...

awarded this project a 20-year

Power Purchase Agreement A power purchase agreement (PPA), or electricity power agreement, is a contract between two parties, one which generates electricity (the seller) and one which is looking to purchase electricity (the buyer). The PPA defines all of the commercial te ...

in 2001. Construction began in June 2003 and the project was commissioned in January 2004. In its 2004 Annual Report, Synex listed the project’s capital cost as $6.6m. Cypress creek (3MW)
BC Hydro originally awarded this project a Power Purchase Agreement in 2003. However, it did not become operational until July 2009, when it became the first project to take advantage of

’s Standing Offer Program. Additionally, revenues are supplemented by the Government of Canada's $10/MWh ecoENERGY subsidy. Barr creek hydro (4MW, 15GWh/yr) This project was awarded a Power Purchase Agreement in BC Hydro's 2006 Open Call for Power and later qualified for the $10/MWh ecoENERGY grant. Construction began on the access roads to the project site in May 2010 and the project is expected to be operational in November 2011. In October 2010, Synex announced that it owns 90% of Barr Creek LP and the remaining 10% is owned by the Ehattshat First Nation, which has the option to purchase an additional 10% from Synex before Jan 2011.

Development projects

McKelvie creek hydro (3.4MW, 14GWh/yr) Originally, the McKelvie Creek project was awarded a PPA in the 2006 Open Call for Power. Development was stalled in July 2007, as due higher than anticipated costs required for interconnection with the grid pushed capital costs up from $10m to $15m. Synex later revealed that it was expecting to receive a new PPA for this project via BC Hydro’s Standing Offer Program. However, BC Hydro has barred projects that received PPAs in the 2006 and 2008 Call processes from participating in the Standing Offer Program. Victoria lake hydro (9.5MW, 39GWh/yr) This was one of three PPAs awarded to Synex in the 2006 Open Call for Power (the firm bid four projects in total).Synex International Media Release - 27 July 2010 Located near

Port Alice Port Alice is a village of approximately 739 (2021 census) located on Neroutsos Inlet, southwest of Port McNeill, on Vancouver Island, originally built by Whalen Pulp and Paper Mills of Vancouver. The community is known for its natural environme ...

, this project has an estimated capital cost of $18m. In its Q3 2009 report, Synex stated that regulatory work was progressing on this project. However, the firm has not mentioned any further developments since that time.

References and footnotes

{{Reflist Companies listed on the Toronto Stock Exchange Electric power companies of Canada

Operational projects

Development projects

See also

References and footnotes