Eagle Creek Renewable Energy acquires 29 MW of hydro in Northeast U.S.
Wednesday, Sep 11, 2013
MORRISTOWN, N.J.--(BUSINESS WIRE)--Eagle Creek Renewable Energy announced today that it has completed the purchase of a portfolio of ten hydroelectric power generation facilities in the Northeast from Algonquin Power. The facilities have a total generating capacity of approximately 29 megawatts, producing approximately 100 million kilowatt-hours of renewable energy in a typical year.
“Eagle Creek’s growth began with our first purchase of hydro facilities in 2010, and we look forward to continuing our expansion into the future.”
“We are extremely pleased to complete this important strategic acquisition which solidifies our position as a leading Northeast hydropower generator,” said Bud Cherry, CEO of Eagle Creek. “Eagle Creek’s growth began with our first purchase of hydro facilities in 2010, and we look forward to continuing our expansion into the future.”
Under the management of an experienced team of Eagle Creek and former Algonquin employees, the ten facilities will be integrated with Eagle Creek’s existing hydroelectric power plants in New York.
Eagle Creek continues to build a strong, diversified hydropower portfolio, leveraging the company’s deep expertise and experience in managing small-scale hydroelectric power plants. With the addition of the eleven new facilities, Eagle Creek’s portfolio now consists of forty operating hydro plants in seven states with a combined generating capacity of approximately 90 megawatts and an annual production of approximately 310 million kilowatt-hours of clean renewable energy. Eagle Creek is also constructing three new projects in the Northeast that will add 4 megawatts and 16 million kilowatt-hours to the portfolio.
Source: Eagle Creek