Brookfield Renewable Energy Partners has signed the agreement to acquire a portfolio of 19 hydroelectric generating stations totaling a capacity of 351MW in US from a subsidiary of NextEra Energy Resources.
Situated on the Kennebec, Androscoggin and Saco rivers in Maine, the portfolio comprises 19 hydroelectric facilities and 8 upstream storage reservoir dams with an estimated average generation of nearly 1.6 million MWh a year.
The transaction values the cummulative portfolio at $760m and expands Brookfield Renewable’s existing operating capacity of 103 MW on the same river systems.
Brookfield Renewable president and CEO Richard Legault these established assets are a complement to the company’s existing hydro portfolio in Maine.
“This high-quality, scale portfolio increases our footprint in the attractive New England market to nearly 1,000 MW of installed capacity.
“This transaction also provides a unique opportunity to leverage our operating platform while positioning us to participate in rising electricity prices over time,” added Legault.
All the output from the hydroelectric stations is currently sold into the New England wholesale power market.