EWP Renewable Corp (EWPRC) said it is under contract to acquire California Power Holdings (CPH) from a fund managed by Wayzata Investment Partners.
The acquisition includes two clean-burning natural gas-fired power generating facilities owned by CPH in California, US.
CPH currently owns a 45MW gas-fired power plant in Red Bluff and a 49MW facility located in Chowchilla.
EWPRC chairman Joon Pyo said that with this acquisition, the company establishes a firm and diverse presence in California’s critical electric and renewable resource base.
EWPRC is a US-based energy firm specializing in development, ownership and operation of renewable energy and cogeneration plants.