SkyPower Corp. Sells Equity Stake To Lehman Brothers

NAW Staff, Wednesday 06 June 2007 - 10:21:01

Lehman Brothers and its private equity business have acquired an equity stake in SkyPower Corp., a Canada-based renewable energy company. The investment includes an up-front acquisition payment, commitments to future project financing, and investment opportunities in the renewable energy sector.

A portion of the up-front payment will be used by the Adler Renewable Energy Foundation, which will allow schools and communities in Canada the ability to benefit from clean renewable power by having solar or wind power augment or replace their current power needs.

The current SkyPower management team will continue to be responsible for and oversee all ongoing day-to-day operations as well as the strategic direction of the company.




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