OTHERAWARDED

Tay Township Council Meeting Minutes March 2 2026

Alectra Secures Landmark NT Power Acquisition

Deferred Payment: $4,350,000 annual payments for 7 years, plus minimum payout of $110,000,000 and potential variable equity payout. Upfront Cash Option: $113,000,000. Plus $1,752,731 promissory note to Tay Township (plus interest)Township of TayALECTRA INCMarch 2, 2026

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Description

Tay Township and the Town of Newmarket have awarded a groundbreaking sale contract to Alectra Inc. for 100% of NT Power and Tay Hydro Inc., after a rigorous Go-Shop process and expert analysis. The agreement features a deferred payment model with $4.35 million in annual guaranteed payments for seven years, a minimum final payout of $110 million, and potential equity upside, subject to regulatory approval. Alectra will also pay out existing promissory notes at closing.

Contract Details

Contract Amount

Vendor

ALECTRA INC

Agency

Township of Tay, Canada

Contract Type

OTHER

Document Date

March 2, 2026

Contract Term

7 years base term for deferred payments, with option for two 3-year extensions (up to 13 years total); Upfront cash option has no term; closing anticipated Q4 2026–Q1 2027

Renewal Date

2033-12-31

Renewal Info

Buyers can trigger equity payout at 7, 10, or 13 years; option to extend deferred payments two additional 3-year terms; future merger opportunity with Alectra is included. Amendment history includes improved financial terms post-Go-Shop period.