Eagle Creek Renewable Energy has purchased and leased the majority of companies and generating facilities owned by North American Hydro for an undisclosed sum.
The company bought or leased 26 generating facilities of approximately 40MW capacity producing around 160,000MWh energy annually.
William D. Harris, one of the current owners of North American Hydro will retain the remaining unsold companies and generating facilities.
Eagle Creek CEO Bud Cherry said, "This deal provides a significant growth platform for Eagle Creek, creating an opportunity for superior economic performance."
North American Hydro CEO and co-founder Chuck Alsberg said, "The combination of the two companies’ assets and management teams will produce significant growth and continued excellence in the critical small hydro industry segment."
In addition to the acquisition, the management and operating staff of North American Hydro will add to Eagle Creek’s management and operating capability.
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By GlobalDataWith the acquisition Eagle Creek will own and operate generating facilities with capacity of over 60MW and produce hydro energy of 220,000MWh.
Eagle Creek intends to own, operate and acquire small-scale hydroelectric generating facilities throughout North America to own, operate, acquire and increase its footprint in hydroelectric industry in the U.S.
