OTHERAWARDED

Township of Tay Special Council Meeting Agenda March 2026

Alectra to Acquire NT Power & Tay Hydro for Up To $251M

Upfront cash sale $113 million OR guaranteed deferred payments: $4.35 million/year for 7 years (minimum $110 million payout), up to $251 million over 13 yearsTownship of TayALECTRA INCMarch 2, 2026

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Description

The Township of Tay and the Town of Newmarket awarded Alectra Inc. the acquisition of 100% of NT Power and Tay Hydro Inc. via an SPA, with a choice of an upfront cash sale of $113 million or a deferred payment model guaranteeing $4.35 million annually for 7 years (minimum $110 million, up to $251 million over 13 years), along with commitments for local service, capital investment, and job retention.

Contract Details

Contract Amount

Upfront cash sale $113 million OR guaranteed deferred payments: $4.35 million/year for 7 years (minimum $110 million payout), up to $251 million over 13 years

Vendor

ALECTRA INC

Agency

Township of Tay, Canada

Contract Type

OTHER

Document Date

March 2, 2026

Contract Term

Deferred payment: 7 years base term, with extension options up to 13 years. Projected close late 2026 or early 2027.

Renewal Date

2033-12-31

Renewal Info

Multiple exit/decision points at years 7, 10, and 13; municipalities may trigger payout based on combined Alectra/NT Power equity value; annual guaranteed payments for 7 years, with extension options that provide additional dividends; capital investment and job protection commitments extend up to 10 years post-close.