Private equity-backed hydro power developer Eagle Creek Renewable Energy has closed a $100m financing round with a joint investment from Power Energy Eagle Creek and asset management group Macquarie Funds Management.
Power Energy Eagle Creek, which is a joint venture between Power Energy Corporation – a wholly owned subsidiary of Power Corporation of Canada – and Claridge, said the capital will be used to fund complementary acquisitions, development projects, and continued growth in the hydro sector.
Eagle Creek has closed a number of acquisitions of small scale hydro portfolios, and currently holds 39 operational hydro plants in seven states, generating up to 90MW.
The company previously received investment from renewables-focused investment firm Hudson Clean Energy Partners. It was founded in 2010 and seeks to acquire, develop, own, and operate small-scale hydroelectric generating facilities throughout North America.
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