The companies did not reveal the financial terms of the sale of the run-of river plant sited at Glen Falls. However, the energy produced is to be sold under a long-term contract to Finch Paper's mill at Glens Falls. The plant generates approximately 60GWh per year of electricity.
Last month, Brookfield agreed to buy a portfolio of hydro facilities and Greenfield development opportunities in southern Brazil through its local subsidiary Brascan Energetica. The deal adds 11 plants with 45MW of combined capacity and a pipeline of up to 188MW in development options.
In June, the company agreed to buy Ford Motor Co's 18MW Twin Cities hydro plant on the Mississippi river in Minnesota.
Brookfield, through Brookfield Asset Management, holds more than 3.8GW of installed power capacity, which includes more than 140 hydro plants and a pumped storage scheme. In addition, the firm's portfolio includes a wind farm and two thermal plants.
