Neither Brookfield Power nor Ford disclosed financial terms of the deal for the 18MW run-of-river plant on the Mississippi river. Completion of the transaction depends on regulatory approvals but is hoped before the end of the year.
The plant in St. Paul, Minnesota is downstream of the Lower St. Anthony's Falls site where the company is due to start construction of a 10MW run-of-river plant in the next few months. Brookfield Power hopes to commission the plant by late 2008.
Brookfield Power has hydro plants is Canada, the US and Brazil.
Last month, Brookfield and Emera completed secured credit financing of US$125M for their JV company Bear Swamp Power Co, which has a 600MW pumped storage plant and a 10MW run-of-river plant in Massachussets.
In February, Brookfield bought two run-of-river plants in New York from Raquette Hydro Power. The plants have a total capacity of 6MW.
