Brookfield To Pay $600M For 351-MW Alcoa Hydro Project

Law360, New York (June 29, 2012, 8:32 PM ET) -- Canadian renewable power operator Brookfield Renewable Energy Partners LP will shell out approximately $600 million to acquire a four-station, 351-megawatt hydroelectric project in the attractive southern U.S. market from steel giant Alcoa Inc., the parties announced Friday.

The deal gives Brookfield four generating stations and dams, 86 miles of related transmission line, and about 14,500 acres of land that is occupied by and surrounds Alcoa's Tapoco Hydroelectric Project on the Tennessee-North Carolina border, according to parallel statements from the companies.

Tapoco falls directly in one of...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required