Brookfield Power Completes Acquisition of Two Hydroelectric Generating Stations in Maine
GATINEAU, QUEBEC -- 06/08/2006 -- Brookfield Power today announced completion of the acquisition of two hydroelectric generating facilities from Rumford Falls Power Company, for US$144 million in cash.
This acquisition includes two hydroelectric generating stations located on the Androscoggin River in Maine. These run-of-the-river facilities have a combined generating capacity of almost 40 megawatts (MW), capable of producing on average 274 gigawatt hours of electricity annually that will be sold into the New England wholesale market.
"This acquisition fits well with Brookfield Power's strategy of owning and operating low cost, long-life, renewable assets," said Harry Goldgut, Co-Chairman and Chief Executive Officer of Brookfield Power. "The addition of these facilities to our portfolio strengthens our presence in the Northeast to 123 generating facilities."
About Brookfield Power
Brookfield Power comprises the power generating, transmission, distribution and marketing operations of Brookfield Asset Management. Brookfield Power has developed and successfully operated hydroelectric power facilities, primarily in North America, for almost 100 years. Brookfield Power's portfolio comprises almost 3,500 megawatts of capacity and includes 137 hydroelectric power generating stations located on 48 river systems, 2 co-generation facilities and transmission and distribution assets, principally in the northeast North America. (See brookfieldpower.com for more details). Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has approximately US$50 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. (See brookfield.com for more details). |
