Power producer takes controlling stake in Canadian Environmental Energy Corp., Chapais Power Services Inc.
April 2, 2013
by PLANT STAFF
TORONTO – Northland Power Inc. has acquired the controlling interest in the Canadian Environmental Energy Corp. (CEEC) and all the shares of Chapais Power Services Inc.
Financial details of the acquisitions have not been released.
CEEC owns the voting shares in Kirkland Lake Power Corp. (KLPC) and Cochrane Power Corporation (CPC) which, respectively, own the 132 megawatt Kirkland Lake and 40 megawatt Cochrane biomass and natural-gas fired power facilities operated by Northland Power. CEEC also owns the voting shares in CHEL, General Partner of Chapais Énergie, Société en Commandite (CHESEC), owner of the 28 megawatt biomass-fired power facility in Chapais, Québec.
Subsequent to these acquisitions, Northland will assume corporate management of CEEC, CPC, KLPC, and CHEL. In addition to continuing in its role as operations manager of the Cochrane and Kirkland Lake generating stations, Northland will take on through CPSI a new role as operations manager of the Chapais generating station.
Northland Power is an independent clean (natural gas) and green (wind, solar, hydro) power producer that currently owns interests in 1,005 megawatts of operating capacity, with an additional 380 megawatts in construction, and another 220 megawatts of wind, solar and run-of-river hydro projects.