A report prepared for BC Hydro by BTY in collaboration with EY has found the cost and risk processes on the Site C Clean Energy Project to be well designed and implemented.
The 43-page report also raises areas of concern for the project as it gears up for its most active construction period and makes a series of recommendations to head off the challenges that a project of this size and complexity presents. The project is, however, feeling the benefits of low interest rates and a steady supply of skilled workers from Alberta due to the slump in the oil and gas industry. Their availability eased earlier concerns about labour shortages driving up construction costs.
BC Hydro engaged EY and BTY to review the project’s risk and cost management. In carrying out our role to provide Project Controls Assessment as part of the review, we drew on our international experience as specialists in large, complex infrastructure projects.
BTY has provided project controls and due diligence review on more than 130 major infrastructure and engineering projects worldwide, both new-build and redevelopments for existing facilities. These projects have included dams, rapid transit lines, utilities, pipelines, mines, airports, highways, bridges, and water and wastewater treatment facilities.
BTY is currently serving as the Lenders’ Technical Advisor on two of the continent’s largest transportation infrastructure projects, New York City’s $4B LaGuardia Airport redevelopment and Toronto’s $5B Eglinton Crosstown Light Rail Rapid transit line.
To read further excerpts from the report, visit BC Hydro’s website by clicking here.