Calgary, Alberta – February 21, 2017 – BluEarth Renewables Inc. (“BluEarth”) is pleased to announce that it has entered into an agreement with Veresen Inc. to acquire six operating renewable energy facilities across Canada. This acquisition includes three wind facilities in Ontario and three run-of-river hydro facilities in British Columbia.
“This acquisition is a key milestone in our long-term growth strategy,” said Grant Arnold, BluEarth’s President and CEO. “The portfolio complements our existing operations and will expand our reach in communities where we have strong business relationships.”
BluEarth intends to own and operate these facilities over the long term.
The agreement is subject to customary closing conditions and the receipt of all necessary approvals. Closing is expected to occur during the second quarter of 2017. Blake, Cassels & Graydon LLP acted as legal counsel and RBC Capital Markets acted as financial advisor to BluEarth for the acquisition.
About BluEarth Renewables Inc.
Headquartered in Calgary, BluEarth is a private, independent renewable power producer, focused on the acquisition, development, construction, and operation of wind, water, and solar projects, with a focus on Canada. With the most experienced renewable energy development team in Canada, BluEarth’s mission is to be the renewable energy leader by developing, building, and operating a portfolio that optimizes people, planet, and profit. BluEarth believes it has The Power to Change the Future M by demonstrating how to be sustainable and profitable, leaving the world a better place. For more information, visit www.bluearth.ca or follow us on twitter @BERenewables.
For more information, contact:
BluEarth Renewables Inc.
(403) 668-1575 x 422