Central Vermont Public Service has announced that it will purchase the assets and service territory of the Vermont Marble Power Division of Omya Inc. for $33.2M, including four hydroelectric facilities with a combined capacity of 18.1MW.
Once the transaction is complete, CVPS plans to invest $12M to expand generation at the hydro power plants and operate them in conjunction with its Otter Creek hydro operations.
The sale, expected to be completed by year-end 2010, is subject to the approval process set forth by the Vermont Public Service Board. The transaction also requires approval of the Federal Energy Regulatory Commission.