in News Departments > FYI
print the content item

Canadian Hydro Developers Inc., a Calgary, Alberta-headquartered developer of renewable energy projects, has agreed to acquire GW Power Corp. (GWP), an Alberta-based wind farm developer and owner, for $87 million. GWP currently owns 50% of the 70.5 MW Soderglen Wind Plant located in southern Alberta that became operational in September of 2006.

"The acquisition of GWP provides Canadian Hydro with an interest in a brand-new wind plant that is highly complementary to our asset base and operating platform in Alberta, as well as solid wind prospects in Ontario and Alberta for future growth," says John Keating, Canadian Hydro's chief executive officer.

The offer is expected to be mailed to GWP shareholders early February, the companies say. GWP's board of directors has unanimously approved the acquisition and, based on Canaccord Capital Corp.'s financial advice, the agreement is deemed fair. Therefore, the acquisition is expected to finalize at the end of March.

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?


GE Blade Crashes At Mehoopany Wind Farm In Pennsylvania

The turbine manufacturer says the Nov. 2 incident is "isolated and unrelated" when compared to earlier blade issues.

Renewable NRG_id1934
Hybrid Energy Innovations 2015
BG 2015DblBox_id2032