U.S. papermaker NewPage sells 9.1-MW Little Quinnesec

Paper manufacturer NewPage Corp. announced March 24 it completed the sale of its 9.1-MW Little Quinnesec Falls hydroelectric project in Wisconsin to Northbrook Wisconsin LLC.

Terms of the transaction were not disclosed.

Closing of the sale followed an agreement between the parties for the project, on the Menominee River in Niagara, Wis. (HNN 3/6/09) The Federal Energy Regulatory Commission approved an application March 10 to transfer the license for Little Quinnesec (No. 2536) to Northbrook Wisconsin.

Northbrook Wisconsin is an affiliate of United States Power Fund III L.P., a private equity fund managed by Energy Investors Funds, and Northbrook Energy LLC. Sanabe &Associates LLC served as financial adviser to NewPage in the transaction.

Ohio-based NewPage previously announced it is considering selling a number of its hydropower projects as a way to help offset the company’s financial losses.

NewPage owns Consolidated Water Power Co., a former Stora Enso North America asset that owns and operates five hydro projects, totaling 33 MW, along 33 miles of the Wisconsin River in central Wisconsin: 6.232-MW Biron (No. 2192); 7.2-MW DuBay (No. 1953); 3.84-MW Stevens Point (No. 2110); 6.4-MW Whiting (No. 2590); and 9.23-MW Wisconsin Rapids (No. 2256). It also owns and operates the 2.013-MW Kimberly project (No. 10674), on the Fox River in Kimberly, Wis.

For information on NewPage’s hydroelectric projects, contact Tom Scharff, Director of Power and Energy, NewPage Corp., 610 High Street, Wisconsin Rapids, WI 54495; (1) 715-422-3073; E-mail: thomas.scharff@newpagecorp.com.

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