Fortis Incorporated, a regulated electricity and gas utility based in Canada, announced on 28 January that it had entered into a definitive agreement with Columbia Power Corporation (CPC) and Columbia Basin Trust (CBT) to sell its 51 per cent interest in the 335 MW Waneta Expansion plant in British Columbia for approximately C$ 1 billion (USS 754.15 million). The sale, which Fortis said it expects to close within 90 days subject to customary closing conditions and approvals, concludes the utility's divestment of non-core assets that are designed to help raise financing for its CS 17.3 billion five-year capital investment plan at its North American regulated utility business.
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