Blue Heron Hydro is owner of the development rights of two upcoming hydroelectric facilities at the Ball Mountain and Townshend dams on the West River in southern Vermont.
The plants will have a cumulative capacity of 3.1MW to generate over 10,000 MWh of clean renewable energy per annum.
The facilities are under a long-term power purchase agreements through the Vermont Sustainably Priced Energy Development (SPEED) program and will support the state’s goal of generating 20% of its electricity from renewable sources by 2017.
Commenting on the acquisition Eagle Creek CEO Bud Cherry said that the acquisition in an important milestone for the company in its efforts to both acquire and optimize existing hydroelectric facilities besides constructs new facilities.
"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," added Chery.
The projects received operating licenses earlier this year with on-site construction expected to commence in the beginning of 2013.
