Eagle Creek Renewable Energy LLC has completed its acquisition of Blue Heron Hydro LLC.
Blue Heron owns the development rights for two hydropower facilities to be built on U.S. Army Corps of Engineers dams on the West River in southern Vermont. Eagle Creek says the acquisition marks its first purely developmental project.
"This acquisition continues the growth and value creation underway at Eagle Creek while broadening the scope of our efforts to include the construction of new generating facilities from late stage development opportunities," says Bud Cherr, Eagle Creek's chief executive officer.
The hydroelectric plants, to be located at the Ball Mountain and Townshend dams, will combine for about 3.1 MW of generating capacity. Power generated by the facilities has already been sold via a long-term power purchase agreement through Vermont's Sustainability Priced Energy Development (SPEED) program.
HydroWorld.com reported earlier this year that the two projects received 50-year operating licenses from the Federal Energy Regulatory Commission.
Eagle Creek says manufacturing of the projects' turbine and generator equipment is already under way, with construction to begin in the first quarter of 2013. Both facilities are expected to be completed by the end of 2013.
Since it was founded in 2010, Eagle Creek's hydroelectric portfolio now includes 29 facilities in six states, with a combined output capacity of 64 MW.
The company announced in April that it had acquired North American Hydro Holdings.