Eagle Creek Renewable Energy, LLC has completed the acquisition of Blue Heron Hydro, LLC from developer Lori Barg. Blue Heron owns the development rights to two hydroelectric facilities to be built on Army Corps of Engineers dams on the West River in southern Vermont.
The facilities, located at the Ball Mountain and Townshend dams, will total approximately 3.1 MW and will generate over 10,000 MWh of renewable energy per year using water already flowing through the Army Corps dams, Eagle Creek said in an Aug. 6 statement. The facilities have long-term power purchase agreements through the Vermont Sustainably Priced Energy Development (SPEED) program and will support Vermont’s goal of providing 20% of electricity from new renewable resources by 2017.
“The acquisition of Blue Heron is an important step in our effort to build a company that both acquires and optimizes existing hydroelectric facilities and constructs new facilities in a manner that is safe, responsible, and respectful of the environment and the many stakeholders of our water resources,” said Bud Cherry, Eagle Creek’s CEO. “This acquisition continues the growth and value creation underway at Eagle Creek while broadening the scope of our efforts to include the construction of new generating facilities from late stage development opportunities.”
The Federal Energy Regulatory Commission issued new 50-year operating licenses to the two Blue Heron projects earlier this year. Construction of the turbine and generator equipment for the projects has begun at Obermeyer Hydro, Inc.’s facility in Fort Collins, Colorado. On-site construction is expected to begin in the first quarter of 2013, with the projects in service in the third quarter of 2013.
Eagle Creek was founded in 2010 with Bud Cherry as its CEO and Hudson Clean Energy Partners as its founding investor.