Eagle Creek Renewable Energy has completed the acquisition of a 7MW Swinging Bridge Hydroelectric Project from AER NY-Gen for an undisclosed amount.
The acquisition also includes purchase of the Toronto and Swinging Bridge reservoirs as well as Cliff Lake, located 60 miles northwest of New York City.
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Eagle Creek with the recent acquisition has complemented its previous purchase of the Mongaup Falls and Rio Hydroelectric Projects and created a 21MW system of five reservoirs and three generating facilities in Mongaup Valley.
The system generates 55,000 megawatt hour (MWh) of clean renewable energy every year for downstate New York.
Eagle Creek CEO Bud Cherry said with the purchase of Swinging Bridge the company can now move forward to optimise the use of river flows and reservoir storage to meet the interests of its various stakeholders and realise the full value of this historic system.
"This closing, together with our recent acquisition of North American Hydro, further expands Eagle Creek’s platform of small-scale hydroelectric projects and represents an important step in our continued pursuit of high-quality growth opportunities," Cherry added.
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By GlobalDataThe Toronto and Swinging Bridge reservoirs provide recreational resources for the public, as well as a significant source of water flow into the Delaware River system.
Eagle Creek and its subsidiary North American Hydropower together now own 29 hydroelectric facilities across five states with a cumulative generating capacity of 61MW, which produces around 220,000MWh of clean renewable energy annually.
