Greentech Lead America: Eagle Creek Renewable Energy, a
subsidiary of Hudson Clean Energy Partners, has purchased the majority of the
companies and generating facilities owned by North American Hydro.
Under the transaction, Eagle Creek has acquired ownership
or leasehold interests in 26 facilities with a total generating capacity of
approximately 40 MW, producing approximately 160,000 MWh of clean renewable
energy annually.
“This deal provides a significant growth platform for
Eagle Creek, creating an opportunity for superior economic performance. The
structure also supports continued excellence in operations, maintenance, dam
safety, and regulatory compliance provided by the outstanding management and
operations teams at the facilities,” said Bud Cherry, CEO of Eagle Creek.
Eagle Creek currently owns and operates three
hydroelectric facilities on the Mongaup River in the State of New York. These
facilities have a total generating capacity of 20 MW.
The new addition will substantially increase Eagle
Creek’s footprint in the hydroelectric industry in the U.S. After the
acquisition, Eagle Creek will own and operate facilities with over 60 MW of
capacity, producing average annual generation of approximately 220,000 MWh.
“I am very pleased to combine the strengths of North
American Hydro, built over the last 35 years, with those of a high quality,
strategic company like Eagle Creek, whose team shares my vision for growth,”
said Chuck Alsberg, CEO and co-founder of North American Hydro.
Hudson Clean Energy Partners recently invested $55 million in Beijing-based GSE Investment for a minority
stake in the waste-to-energy, wastewater treatment, and water services company.