Brookfield
Power Completes Acquisition of Two Hydroelectric Generating
Stations in New York
Gatineau, Quebec, February
14, 2007 – Brookfield
Power today announced that it has completed the acquisition
of
two hydroelectric generating facilities from Raquette Hydro
Power Ltd. for an undisclosed price.
This acquisition includes the Hewittville and Unionville
hydroelectric generating stations located on the Raquette
River in New York. These run-of-the-river facilities have
a combined generating capacity of 6 megawatts, capable of
producing on average
35 gigawatt hours of electricity annually. All power will
continue to be sold to Niagara Mohawk Power Corporation,
an electricity distributor and a subsidiary of National Grid,
under a long-term Power Purchase Agreement.
“This acquisition is consistent with Brookfield Power’s
strategy of expanding its renewable energy portfolio, and
an excellent fit with our existing portfolio in New York,
which totals more than 800 megawatts of installed hydro capacity,” said
Harry Goldgut, Co-Chairman and Chief Executive Officer of
Brookfield Power.
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About Brookfield Power
Brookfield Power comprises the power generating and marketing
operations of Brookfield Asset Management Inc. Brookfield
Power has developed and successfully operated hydroelectric
power facilities for almost 100 years. Brookfield Power’s
portfolio comprises almost 3,800 megawatts of capacity
and includes 140 hydroelectric power generating stations
and 1 pumped storage facility located on 50 river systems,
1 wind farm, and 2 thermal plants, principally in the northeastern
North America and South America. (See www.brookfieldpower.com
for more details). Brookfield Asset Management Inc., focused
on property, power and infrastructure assets, has approximately
US$70 billion of assets under management and is co-listed
on the New York and Toronto Stock Exchanges under the symbol
BAM. (See www.brookfield.com for more details).
Brookfield Power
Grace Pollock
Director, Corporate Communications & Investor Relations
Tel: (819) 561-8072
Email: grace.pollock@brookfieldpower.com
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