North America

Brookfield acquires four Ontario projects

Brookfield Power has acquired Beaver Power Corp. and its four hydroelectric plants, totaling about 50 MW, in northern Ontario.

Brookfield managed the facilities prior to the acquisition. It did not disclose the purchase price for the plants: 19-MW Carmichael Falls, 19-MW Nagagami (also known as Shekak), 7-MW Serpent River, and 5-MW Cameron Falls.

The plants’ average combined output totals about 220 gigawatt-hours annually. Power is sold under long-term agreements to Ontario Electricity Financial Corp. Brookfield said the acquisition increases its hydro plants in Ontario to 21.

In a separate transaction, Brookfield purchased a U.S. project, 39.35-MW Rumford Falls in Maine, for C$165 million (US$144 million).