Eagle Creek buys four Maine small hydro plants from Verso

Eagle Creek Renewable Energy has purchased Verso Androscoggin Power LLC, which owns four small hydro plants, from Verso Corp.

The $62 million purchase price bought Eagle Creek four facilities associated with Verso’s Androscoggin pulp and paper mill in Jay, Maine.

The four facilities purchased are 3.1-MW Jay, 8.8-MW Livermore, 10.4-MW Otis and 7.8-MW Riley. These are run-of-river facilities on the Androscoggin River.

The sale is part of Verso’s efforts to raise funds to address its previously disclosed cash flow and liquidity concerns, according to a press release.

The mill purchased electricity from Verso Androscoggin Power before the transaction and will continue to do so with Eagle Creek as the owner, Verso says.

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Elizabeth Ingram is content director for the Hydro Review website and HYDROVISION International. She has more than 17 years of experience with the hydroelectric power industry. Follow her on Twitter @ElizabethIngra4 .

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