Eagle Creek Renewable Energy reports it has completed the acquisition of the 9-MW Anson and 19-MW Abenaki hydro facilities from Madison Paper Industries.
Both hydroelectric plants are located on the Kennebec River in Maine and were part of the Madison Paper mill complex, providing power to the mill until it closed in May 2016.
The two powerhouses will produce about 150 million kWh of electricity annually for the New England grid, according to a press release.
The transaction closed on July 31. Financial terms of the sale have not been disclosed.
Eagle Creek also reports is has acquired a minority interest in the 4-MW Brassau facility in Maine and a majority interest in the Kennebec Water Power Company, which regulated releases from upstream storage reservoirs on the Kennebec River.
“We are very pleased to add these substantial facilities to our portfolio,” says Bud Cherry, chief executive officer of Eagle Creek.” Together with our other recent acquisitions in Maine, Anson and Abenaki provide us with the scale to establish a more focused, regional operation, and that will allow us to give even greater attention to continuing the safe, reliable operation of these facilities.”
Eagle Creek was founded in 2010 “to acquire, enhance and operate small to medium hydroelectric power facilities.” The company owns about 220 MW of generating capacity from 64 facilities in 13 states.
In April, HydroWorld reported that Eagle Creek was purchasing the 12.5-MW Reusens hydropower facility in Virginia.