Brookfield Power has completed the acquisition of two hydroelectric generating facilities from Rumford Falls Power Company for US$144M in cash.
The acquisition includes two hydro stations on the Androscoggin river in Maine, US. These run-of-river facilities have a combined generating capacity of almost 40MW, capable of producing on average 274GWh of electricity annually that will be sold into the New England wholesale market.
‘This acquisition fits well with Brookfield Power’s strategy of owning and operating low cost, long-life, renewable assets,’ said Harry Goldgut, co CHairman and Chief Executive Officer of Brookfield Power. ‘The addition of these facilities to our portfolio strengthens our presence in the Northeast to 123 generating facilities.’