Brookfield Power completes acquisition of Beaver Power Corporation
Date Closed
March 31, 2006
Lead Office
Toronto
Value
160.00 Million CAD
On March 31, 2006, Brookfield Power signed an agreement with the shareholders of privately-owned Beaver Power Corporation to acquire the company and its four hydroelectric generating facilities in Northern Ontario totaling approximately 50 megawatts of generating capacity for an undisclosed purchase price.
The combined output of these facilities on average is approximately 220 gigawatt hours annually. All of the power produced by these facilities is sold under long term power purchase agreements with the Ontario Electricity Financial Corporation, with an average remaining duration of 38 years.
Brookfield Power, headquartered in Gatineau, Quebec, comprises the power generating, transmission, distribution and marketing operations of Brookfield Asset Management. Brookfield Power has developed and successfully operated hydroelectric power facilities, primarily in North America, for almost 100 years. Brookfield Power’s portfolio comprises almost 3,500 megawatts of capacity and includes 131 hydroelectric power generating stations located on 43 river systems, 2 co-generation facilities and transmission and distribution assets, principally in the northeast.
McCarthy Tétrault LLP represented Brookfield Power, as acquirer, with a team led by David Lever.