Hydro Ottowa increases green energy holdings
Hydro Ottowa has made strategic acquisitions.
Hydro Ottawa Holdings could have taken advantage of merger and acquisition consultants, as it has revealed it has made a strategic purchase of three hydroelectric power plants from Domtar Corporation and has signed sale agreements relating to the transaction.
Furthermore, Hydro is also acquiring a 38.3 per cent interest in Chaudiere Falls's Ring Dam from Domtar, with this deal set to cost as much as $45 million (£28.28 million).
This deal is part of the firm's strategic plan to take advantage of environmentally-friendly growth opportunities that provide stable long-term shareholder returns and reliable energy to consumers.
Chairman of the Hydro's board Pierre Richard said: "This acquisition increases our generating capacity at Chaudiere from 17 megawatts to 38 megawatts of clean electricity - enough to power 28,000 homes every year."
The closure date for the deal is August 31st.
Hydro Ottowa was recently commended as one of the National Capital Region's Top 25 Employers for the fourth consecutive year.
Posted by David Gleck
Source; Hydro press release, June 13th