The deal, which was first announced in November last year, includes three hydro stations with a total capacity of 36.8MW, including the 34.5MW Tinker Hydroelectric station located on the Aroostook River near the Town of Perth-Andover, New Brunswick. In addition, Algonquin acquired five thermal generating stations and certain regulated NB ISO transmission lines located in proximity to the generating facilities. Due to confidentiality provisions with the seller, the purchase price has not been disclosed

The acquisition has been financed with $20M of new equity and the balance with a portion of the long term convertible debentures from the offering of Algonquin shares and debentures that was completed on 2 December 2009.