Ontario Power Generation (OPG), has signed a purchase and sale agreement to acquire Eagle Creek Renewable Energy LLC (Eagle Creek), an independent power producer and operator of hydro-electric facilities in the United States, from affiliates of Hudson Clean Energy Partners (Hudson) and other shareholders. The closing of the transaction is subject to standard U.S. regulatory approvals. Hudson is represented by sell-side advisor, Evercore.
Eagle Creek, headquartered in Morristown New Jersey, owns and operates a portfolio of 76 high-quality hydroelectric facilities representing ~230MW of capacity located on 45 waterways throughout the U.S. and sells electricity within 6 power pools. Eagle Creek’s platform is one of the fastest growing, most diversified fleets in the country.
Mr. Eli Smith, CEO of Eagle Creek, said, "We have been privileged to work with Hudson to build Eagle Creek since its inception in 2010. We are especially grateful to our founding CEO, Bud Cherry, whose leadership has shaped Eagle Creek into an industry leading franchise and wish him well in his retirement. We are now looking forward to a path of continued growth and success as part of OPG."
Ontario Power Generation | http://www.opg.com