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Morristown renewable energy company acquires 2 hydro facilities in Maine

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Morristown-based Eagle Creek Renewable Energy announced it has acquired approximately 30 MW of hydroelectric facilities from Madison Paper Industries.

Eagle Creek said it acquired the 9-MW Anson and 19-MW Abenaki facilities located on the Kennebec River in Madison, Anson and Starks, Maine.

The facilities will be independently owned by Eagle Creek and will provide approximately 150 million kilowatt-hours per year of renewable and clean energy to the New England area.

Eagle Creek also said it has acquired a minority interest in the 4-MW Brassau facility near Rockwood, Maine and a majority interest in the Kennebec Water Power Co.

"We are very pleased to add these substantial facilities to our portfolio.  Together with our other recent acquisitions in Maine, Anson and Abenaki provide us with the scale to establish a more focused, regional operation, and that will allow us to give even greater attention to continuing the safe, reliable operation of these facilities,” Bud Cherry, Eagle Creek CEO, said.

Madison Paper Industries is a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Co.

Financial terms were not disclosed.

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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