Ontario Power Generation (OPG), has signed a purchase and sale agreement to acquire Eagle Creek Renewable Energy, LLC (Eagle Creek), an independent power producer and operator of hydro-electric facilities in the United States, from affiliates of Hudson Clean Energy Partners (Hudson) and other shareholders. The closing of the transaction is subject to standard U.S. regulatory approvals. Hudson is represented by sell-side advisor, Evercore.
Eagle Creek, headquartered in Morristown New Jersey, owns and operates a portfolio of 76 high-quality hydro-electric facilities representing ~230MW of capacity located on 45 waterways throughout the U.S and sells electricity within 6 power pools. Eagle Creek’s platform is one of the fastest growing, most diversified fleets in the country.
Mr. Eli Smith, CEO of Eagle Creek, said, "We have been privileged to work with Hudson to build Eagle Creek since its inception in 2010. We are especially grateful to our founding CEO, Bud Cherry, whose leadership has shaped Eagle Creek into an industry leading franchise and wish him well in his retirement. We are now looking forward to a path of continued growth and success as part of OPG”.
About Ontario Power Generation
Ontario Power Generation (OPG) produces almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day. It is committed to ensuring energy production is reliable, safe and environmentally sustainable for Ontarians today and for the future. Further information about Ontario Power Generation can be found at www.opg.com.
About Hudson Clean Energy Partners
Hudson Clean Energy Partners is an independent investment firm focused on identifying unique and creative opportunities that promote sustainability and resource efficiency. The Company has diverse capabilities across illiquid sustainable investments including private equity, infrastructure and venture. Further information about Hudson can be found at www.hudsoncep.com.