Greentech Lead America: Eagle Creek Renewable
Energy, a subsidiary of Hudson Clean Energy Partners, has purchased
Blue Heron Hydro from developer Lori Barg. With this acquisition, Eagle Creek
will have the right to develop two hydroelectric facilities to be built on Army
Corps of Engineers dams on the West River in southern Vermont.
The facilities, located at the Ball Mountain and Townshend
dams, will have total capacity of approximately 3.1 megawatts and will generate
over 10,000 MWh of clean renewable energy per year. The projects will support
Vermont’s goal of providing 20 percent of electricity from new renewable
resources by 2017.
The turbine and generator equipment for the projects will
be provided by Obermeyer Hydro. The construction of the projects will commence
in the in the first quarter of 2013 and the projects will go on line in the
third quarter of 2013.
The facilities have long-term power purchase agreements
through the Vermont Sustainably Priced Energy Development (SPEED) program.
“The acquisition of Blue Heron is an important step
in our effort to build a company that both acquires and optimizes existing
hydroelectric facilities and constructs new facilities in a manner that is
safe, responsible, and respectful of the environment and the many stakeholders
of our water resources. 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,” said Bud Cherry, Eagle Creek’s
CEO.
Eagle Creek Renewable Energy buys hydroelectric generating
facilities from North American Hydro
Recently, Eagle Creek Renewable Energy purchased the
majority of the companies and generating facilities owned by North American
Hydro. Under the transaction, Eagle Creek has acquired ownership or leasehold
interests in 26 facilities with a total generating capacity of approximately 40
MW, producing approximately 160,000 MWh of clean renewable energy annually.
editor@greentechlead.com