Brookfield Renewable Power Inc. announced April 1 it completed acquisition of Ford Motor Co.’s historic 17.92-MW Ford hydroelectric project in St. Paul, Minn.
Ford Motor Co. last year chose Brookfield from pre-qualified bidders to purchase the U.S. project on the Mississippi River. (HNN 5/30/07) Ford Motor Land Development Corp., a subsidiary of Ford Motor Co., handled the sale.
Brookfield Renewable Power, a subsidiary of Canada-based Brookfield Asset Management Inc., is the successor to Brookfield Power Inc. and its subsidiary, Brookfield Power Corp., which combined March 31 to become Brookfield Renewable Power Inc.
The Ford project has powered Ford’s Ranger truck assembly plant, scheduled to close in 2008. It was Ford’s only hydropower plant, which also generated electricity for sale to Xcel Energy.
The hydro plant generates about 100 gigawatt-hours annually, which Brookfield said would be sold into the Midwestern wholesale electricity market.
�This enhances our renewable power platform and marks our expansion into the Midwestern energy market, one of the world’s largest,� Brookfield Renewable Power Chairman Harry Goldgut said. �We’re very pleased with the facility and the opportunity to participate in the economy and community of St. Paul.�
The Ford project, previously known as Twin Cities, features a dam and 83-year-old power plant. The Corps of Engineers built the dam in 1917 in anticipation of hydropower. Ford completed the hydro plant in 1924 at a cost of about $1 million.
The Federal Energy Regulatory Commission issued a 30-year relicense for continued operation of the project in 2004. (No. 362)
In 2007, Brookfield purchased part ownership interest in SAF Hydroelectric LLC, licensee for the proposed 8.98-MW Lower St. Anthony Falls project, also on the Mississippi River, located upstream of the Ford hydro plant. (HNN 2/14/08)