LISBON

Eagle Creek Renewable Energy, LLC has acquired Brown Bear II Hydro Holdings, LLC, which owns the Worumbo Hydroelectric facility in Lisbon Falls.

Worumbo is a 19 megawatt run-of-river hydroelectric generating facility on the Androscoggin River that supplies nearly 95 million kilowatt-hours of energy each year. Eagle Creek has said the Worumbo facility will continue to supply energy to off-takers under a power purchase agreement. The facility will be managed and operated by Eagle Creek, and the transaction is expected to have no impact on the operations of the Worumbo facility, according to an Eagle Creek press release.

The acquisition was announced in late November.

“We are extremely pleased to announce this substantial acquisition,” said Eagle Creek CEO Bud Cherry in the release. “It is an another important step in achieving our long-term growth plan of increasing the scale of Eagle Creek, providing strong risk-adjusted returns for our investors and creating significant value for all of our stakeholders. This addition to our portfolio solidifies our position on the Androscoggin River, and it positions Eagle Creek to continue the substantial annual growth and value creation we have achieved since our founding in 2010.”

Eagle Creek is an owner, operator and developer of hydroelectric generating facilities.  Its portfolio comprises over 161 MW of generation from 59 facilities in 10 states. Eagle Creek is headquartered in Morristown, New Jersey.