OPG buys U.S. renewable appetite organisation for $388M

Ontario’s government-owned energy association is creation a initial incursion outward a province, announcing a understanding to buy New Jersey-based Eagle Creek Renewable Energy for $388 million.

Ontario Power Generation says Eagle Creek owns 63 tiny hydropower comforts in a United States providing a sum of 216 megawatts of capacity.

The secretly hold aim company’s dual largest investors are U.S.-based Hudson Clean Energy Partners and a corner try owned by Power Corp. of Canada and Claridge Inc., an investment organisation owned by Canada’s Stephen Bronfman family.

Ontario Power says Eagle Creek has about 160 employees and a comforts are located in California, Colorado, Minnesota, Wisconsin, Michigan, Illinois, Maine, Massachusetts, New York, New Jersey, New Hampshire, Vermont and Virginia.

The transaction is approaching to tighten by a finish of 2018.

Ontario Power says a investment is being done on interest of Ontarians though no taxpayer dollars will be used in a purchase; rather, it will be financed by corporate open debt or other credit facilities.

Article source: https://www.cbc.ca/news/business/ontario-power-generation-eagle-creek-renewable-energy-1.4779228?cmp=rss