Brascan Power Acquires Two Hydro Power Plants

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Brascan Power Incorporated, a subsidiary of Brascan Corporation (NYSE:BNN ) (Toronto, Ontario), acquired two hydroelectric plants from Reliant Energy (NYSE:RRI ) on April 27, 2005. One is located in Clarion, Pennsylvania, and the other in Oakland, Maryland.

The Piney Hydro Station, in Clarion, Pennsylvania, is an 81-year-old power station that consists of three 9.6 megawatt (MW) hydroelectric turbines. The Deep Creek hydro station in Oakland, Maryland, began commercial operation in 1925 with two 10 MW hydroelectric turbines. Brascan Power purchased the two plants for $42 million, to increase its generating portfolio in the Northeast and Mid-Atlantic regions.

Brascan Power has seventy hydroelectric power stations in Canada, generating up to 2,600 MW all together.

Reliant Energy, an independent power producer headquartered in Houston, Texas, is the number one retail power supplier in the state of Texas and has generating plants with fossil-fuel capacity of 19,000 MW.

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