BluEarth partnered on this $640Macquisition with a major Canadian institutional investor. These plants have approximately 19 years remaining in a 20-year power purchase agreement with the Ontario Power Authority, and will generate long-term stable cash flows for BluEarth. TD Securities Inc. and Blake, Cassels & Graydon represented BluEarth and its partner as financial and legal advisors, respectively, for this transaction.
"As part of our growth strategy, we wanted to acquire operating assets out of the gate to generate near term cash flow to internally finance the development of our business," said Kent Brown, President & CEO of BluEarth. "This meaningful investment creates a stable foundation for the continued growth of BluEarth. Our primary focus now shifts to the acquisition of development projects, where our experienced team and financial strength have a unique ability to advance projects that may be stuck lacking capital or experience."
