Brookfield Renewable to acquire Holtwood, Wallenpaupack hydro stations in Pennsylvania

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Brookfield Renewable Energy Partners has reached an agreement to acquire the 252-MW Holtwood and 40-MW Wallenpaupack hydro stations from Talen Energy.

Under this $860 million agreement , Brookfield Renewable will acquire and fund the transaction with institutional partners and maintain an economic interest in the portfolio of about 40%. A portion of the purchase price will be funded with third party investment grade, non-recourse financing expected to close concurrently with the transaction, according to a press release.

Combined, Holtwood on the Susquehanna River and Wallenpaupack in the Pocono Mountains have an expected average annual generation of about 1.1 million MWh.

“The acquisition provides a strong fit with Brookfield Renewable’s 417-MW Safe Harbor facility located 8 miles upstream from Holtwood,” the company says.

All output from these two facilities is sold into PJM. Both plants have long-term Federal Energy Regulatory Commission licenses, with Holtwood expiring in 2030 and Wallenpaupack in 2045.

The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2016.

Brookfield Renewable Energy Partners owns primarily hydroelectric assets across 75 river systems and 14 power markets in North America, Latin America and Europe. The company’s total installed power generating capacity is more than 7,000 MW.

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