Bracebridge Generation has purchased three companies in Haliburton County, Ontario, Canada, that own hydroelectric plants.
Companies acquired are Drag River Water Power Inc., Irondale River Water Power Inc., and Elliott Falls Power Corp. It was not clear from the press release what hydro facilities these companies own, but we previously reported on HydroWorld.com about the 700-kW Elliott Falls hydro plant on the Gull River.
“These acquisitions are part of a long term strategic plan to grow our green energy generation portfolio,” says Chris Litschko, chief executive officer of Bracebridge parent company Lakeland Holding Ltd. “Company growth over the past 10 years has resulted in our staff becoming experts in construction, operation and maintenance of green electricity generation.”
Bracebridge Generation owns the Bracebridge Falls, Wilson’s Falls, 1.5-MW High Falls and Burk’s Falls hydro plants. And in 2016 the company started construction in 2016 on a $16.9 million upgrade at its 1.2-MW Cascade Street generation station on the Seguin River in Parry Sound. When complete, the plant will have a capacity of 3.4 MW.
The company has grown its waterpower portfolio from three plants with a total capacity of 2 MW to nine plants with a total capacity of 15 MW.
Bracebridge Generation is wholly owned by the municipalities of Bracebridge, Burk’s Falls, Hutsville, Magnetawan and Sundridge.