Under the transaction, Eagle Creek has acquired ownership or leasehold interests in 26 facilities with a total generating capacity of about 40MW, producing approximately 160,000MWh of clean renewable energy in a typical year.
Eagle Creek currently owns and operates three hydroelectric facilities on the Mongaup River in the State of New York.
North American Hydro CEO and co-founder Chuck Alsberg said the combination of the two companies’ assets and management teams will produce significant growth and continued excellence in the critical small hydro industry segment.
Eagle Creek CEO Bud Cherry said the deal provides a significant growth platform for Eagle Creek, creating an opportunity for superior economic performance.
"The structure also supports continued excellence in operations, maintenance, dam safety, and regulatory compliance provided by the outstanding management and operations teams at the facilities," Cherry said.
Upon completion of the transaction, Eagle Creek will own and operate facilities with over 60MW of capacity, producing average annual generation of approximately 220,000MWh.
The remaining North American Hydro entities and generating facilities will be retained by William D Harris, one of company’s current owners.
