* Construction on project to start by January 2010
* Says completed purchase of project paying C$52.5 mln
* Power to be sold to BC Hydro
Dec 11 - Canada's hydro-electric producer Plutonic Power Corp (PCC.TO) said its partnership with a unit of General Electric Co (GE.N) will resume construction of the 300-megawatt Dokie Wind Project in British Columbia by January 2010.
Plutonic Power and GE Energy Financial Services completed the purchase of the fully permitted project from EarthFirst Canada Inc (EF.TO) by paying C$52.5 million, Plutonic said in a statement.
The project's first phase can generate 144 MW and is expected to reach commercial operation by early 2011, it said.
The Dokie Wind project, British Columbia's largest wind farm, is the partnership's first wind energy investment in Canada.
Power from the project will be sold to BC Hydro, the third largest electric utility in Canada, under a 25-year energy purchase agreement.
A syndicate led by Manulife Financial Corp (MFC.TO) provided C$175 million in fixed-rate nonrecourse project debt for a 20-year term for the buy, Plutonic said.
Shares of Plutonic Power were up 2 Canadian cents at C$2.79 in morning trade Friday on the Toronto Stock Exchange, while shares of GE were up 1 percent at $15.77 on the New York Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Unnikrishnan Nair)