New Jersey investors buy hydropower dams at defunct Maine paper mill
New Jersey-based Eagle Creek Renewable Energy has purchased the hydroelectric facilities that until May 2016 powered Madison Paper Industries.
Eagle Creek said it closed the sale July 31. It did not disclose the terms.
The company also said it purchased a minority interest in the 4-megawatt Brassua hydropower facility in Rockwood, near Moosehead Lake, and a majority interest in the Kennebec Water Power Co., which regulates upstream releases from reservoirs on the river.
The deals add to Eagle Creek’s growing portfolio of hydropower facilities in Maine. It purchased generators that power Verso’s Androscoggin mill for $62 million in January 2016 and in December purchased the generators at the former Worumbo Mill in Lisbon Falls.
Read more: http://bangordailynews.com/2017/08/08/business/new-jersey-investors-buy-hydropower-dams-at-defunct-maine-paper-mill/?ref=BusinessBox