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Eagle Creek announces acquisition of 10 northeastern hydropower projects

Eagle Creek Renewable Energy Logo

Eagle Creek Renewable Energy has acquired 10 hydroelectric projects from Algonquin Power, the northeastern hydropower operator has announced.

The projects have a combined output capacity of about 29 MW.

"We are extremely pleased to complete this important strategic acquisition which solidifies our position as a leading Northeast hydropower generator," Eagle Creek CEO Bud Cherry said. "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."

The company said the plants will be integrated into its existing fleet under the direction of Eagle Creek and former Algonquin employees.

HydroWorld.com reported that Eagle Creek had completed its acquisition of Blue Heron Hydro LLC in August 2012, giving the company rights to two hydropower facilities to be built on U.S. Army Corps of Engineers dams in Vermont.

The New Jersey-based firm also purchased the majority of the companies and hydroelectric generating facilities owned by North American Hydro Holdings in April 2012, adding to Eagle Creek's 90 MW portfolio that is spread across 29 hydropower plants in seven states.

For more business and transaction news, visit here.

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