Jan 31 2011
Eagle Creek Renewable Energy, a division of Hudson Clean Energy, an equity firm declared that it has purchased two hydroelectric units in Orange County and Sullivan in New York State.
Eagle Creek’s new assets with a 15 MW capacity are located 60 miles from New York City and include water and real estate rights, dams, Rio Powerhouses, Lakes and the Mongaup Falls. The Eagle Creek was formed in 2010 by Hudson Clean Energy to act as a platform for implementing a hydroelectric roll-up strategy on a small scale in the US. The company has plans of expanding its clean energy initiatives to its consumers all over the US.
The management team in Eagle Creek includes many experienced energy executives such as Bernard Bud Cherry, the CEO. According to Bud Cherry, the hydro facility acquisitions was a critical step, which would help in their endeavor of acquiring and developing hydro assets in the US. They were eager to supply clean energy for the consumers in New York, and to act as both good corporate citizens and neighbors in the communities where the projects were located.
Neil Auerbach, Hudson Clean Energy’s Co-Managing Partner, commented that he was thrilled by the Portfolio company Eagle Creek’s growth and was also very happy about constructing a hydro platform in the US. John Cavalier, another Co-Managing Partner remarked that the Management team in Eagle Creek had already proved their innovative skills and remarkable leadership in the clean energy sector and that Eagle Creek and Hudson would work in tandem to achieve the vision of the company.
Source: http://www.HudsonCEP.com