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Eagle Creek acquires 7MW hydro project from AER NY-Gen

26 Jun 2012

Eagle Creek Renewable Energy has acquired 7MW Swinging Bridge Hydroelectric Project from AER NY-Gen for an undisclosed sum.

The acquisition includes three separate reservoirs, Toronto, Cliff Lake and Swinging Bridge located 60 miles northwest of New York City in the US.

Eagle Creek CEO Bud Cherry the company will now plans to optimize the use of river flows and reservoir storage to meet the interests of its various stakeholders and realize 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," said Cherry.

On 21 January 2011, Eagle Creek also acquired Mongaup Falls Hydro project located on the Mongaup River Basin which consists of five reservoirs and three hydroelectric stations.

The three reservoirs provide a significant source of water flow into the Delaware River system.

The company also purchased Rio Hydroelectric Project located downstream of Mongaup Falls in Lumberland; the combined acquisitions have created a 21MW system which produces 55,000 Megawatt hours (MWh) of clean renewable energy annually.

Eagle Creek and its subsidiary company, North American Hydropower will now own 29 hydroelectric facilities in five states.

The facilities have a combined capacity of 61MW and an annual production of approximately 220,000 MWh of clean renewable energy.