Northland Power has acquired Canadian Environmental Energy (CEEC) and Chapais Power Services (CPSI) from The Probyn Group.
CEEC holds voting shares in Kirkland Lake Power (KLPC) and Cochrane Power (CPC), which own the 132MW Kirkland Lake and 40MW Cochrane biomass and natural-gas fired power facilities.
Apart from KLPC and CPC, CEEC also has voting shares in CHEL, general partner of Chapais Énergie, Société en Commandite (CHESEC), which owns the 28MW biomass-fired power facility in Chapais, Quebec.
Northland Power said it will also assume corporate management of CEEC, CPC, KLPC, and CHEL and operate the Chapais generating station.
Northland Power president and CEO John Brace said the acquisitions are part of the company’s commitment for long-term stability and growth.
"While we do not expect them to increase near-term cash flow, for a nominal cost we are consolidating our interests in two of Ontario’s pioneering clean energy projects under our management since start-up and adding another pure renewables project to our portfolio in Québec," Brace added.