Brookfield completes purchase of 15 hydro plants

GATINEAU, Quebec, Canada 9/2/09 (PennWell) – Brookfield Renewable Power Fund, formerly known as Great Lakes Hydro Income Fund, has completed its purchase of 15 hydropower plants with a capacity of 387 MW from Brookfield Renewable Power Inc.

More than 90 percent of the fund’s shareholders approved the acquisition during a special meeting Aug. 19, 2009. The C$945 million (US$813 million) purchase also includes a proposed wind power project.

The deal, which was announced in July, increases the fund’s portfolio of renewable power to 1,700 MW, including 42 hydropower plants and two wind farms. (HydroWorld 7/9/09)

The acquired hydro projects are: Great Lakes Power Ltd.’s 12 hydro projects totaling 349 MW on the Magpie, Michipicoten, Montreal, and St. Mary’s rivers in northern Ontario; Hydro-Pontiac’s Waltham and Coulonge projects totaling 28 MW on the Noire and Coulonge rivers in Quebec; and 10-MW Valerie Falls on Seine River in Ontario.

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