Eagle Creek Renewable Energy has completed the acquisition of around 30 MW of hydroelectric facilities in Maine, US, from Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp.
Eagle Creek Renewable Energy has completed the acquisition of around 30 MW of hydroelectric facilities in Maine, US, from Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp.
The deal includes the 9MW Anson and 19MW Abenaki facilities located on the Kennebec River in Madison, Anson, and Starks, Maine. The two facilities were part of the Madison Paper mill complex and formerly provided power to the mill until it closed in May 2016.
Eagle Creek has also acquired a minority interest in the 4MW Brassua facility near the village of Rockwood, Maine and a majority interest in the Kennebec Water Power Company, which regulates releases from upstream storage reservoirs on the Kennebec River.
“We are very pleased to add these substantial facilities to our portfolio,” said Eagle Creek CEO Bud Cherry. “Together with our other recent acquisitions in Maine, Anson and Abenaki provide us with the scale to establish a more focused, regional operation, and that will allow us to give even greater attention to continuing the safe, reliable operation of these facilities.”