The assets acquired include a 99% interest in the 11MW Furry Creek hydroelectric facility, 100% interest in two 11MW Clowhom hydroelectric facilities, and a 50% interest in the 15 MW Culliton Creek hydroelectric project. In addition, Veresen announced that Aux Sable Canada L.P., in which Veresen holds a 50% interest, has purchased a recently completed expansion to its Septimus Gas Plant near Taylor, BC.
"The BC hydro assets add to our growing portfolio of run-of-river power projects,” commented Stephen White, President and CEO of Veresen. “This acquisition provides us with a long-term stream of contracted cash flows and contracted development upside, along with future development opportunities. Combined with our recent acquisitions of Pristine Power Inc. and Swift Power Corp, Veresen Inc now has a material renewable power portfolio to complement our gas-fired power generation and district energy businesses."
Veresen Inc, formerly Fort Chicago Energy Partners LP, converted from a limited partnership to a corporation under the new name on 1 January 2011.
