Ontario Power Generation buys U.S. renewable energy firm for $388M

Ontario Power Generation buys U.S. renewable energy firm for $388M

TORONTO — Ontario’s government-owned power company is making its first foray outside the province, announcing a deal to buy New Jersey-based Eagle Creek Renewable Energy for $388 million.

Ontario Power Generation says Eagle Creek owns 63 small hydropower facilities in the United States providing a total of 216 megawatts of capacity.

The privately held target company’s two largest investors are U.S.-based Hudson Clean Energy Partners and a joint venture owned by Power Corp. of Canada and Claridge Inc., an investment firm owned by Canada’s Stephen Bronfman family.

Ontario Power Generation buys U.S. renewable energy firm for $388M

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