Business
Great Lakes Hydro Income Fund closes Carmichael Falls acquisition
Great Lakes Hydro Income Fund closes Carmichael Falls acquisition.
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n\nSTOCK SYMBOL: GLH.UN/TSX\n\nGATINEAU, QC, July 6 /CNW Telbec/ - Great Lakes Hydro Income Fund today\nannounced the completion on July 4, 2006 of the acquisition of the Carmichael\nFalls Generating Station (the \"facility\") from Brookfield Power for a purchase\nprice of C$52.5 million. Brookfield Power owns 50.1% of Great Lakes Hydro\nIncome Fund.\nThe acquisition, which was effective July 1, 2006, includes a 20 megawatt\nhydroelectric facility with an annual long-term average generation of\napproximately 86 gigawatt hours. All of the power produced by this facility is\nsold under a long-term power purchase agreement with the Ontario Electricity\nFinancial Corporation.\nFor more information on the facility and the power purchase agreement\nvisit:\nhttp://www.greatlakeshydro.com/hydroOperations/hydroOperations_ontario.cfm\n\nAbout Great Lakes Hydro Income Fund\n\nGreat Lakes Hydro Income Fund is a premier Canadian income fund and one\nof the largest power income funds in North America with 1,015 megawatts of\npower generating capacity and an average annual production of 3,874 gigawatt\nhours.\nGreat Lakes Hydro Income Fund produces electricity exclusively from\nenvironmentally friendly hydroelectric resources. The Fund owns, operates and\nmanages 26 high quality hydroelectric generating stations located on eight\nriver systems in four distinct geographic regions across North America:\nQuebec, Ontario, British Columbia and New England.\nBrookfield Power, which comprises the majority of the power operations of\nBrookfield Asset Management, owns 50.1% of the Fund's outstanding units. Great\nLakes Hydro Income Fund units are listed for trading on the Toronto Stock\nExchange under the symbol GLH.UN.\n\nForward-Looking Statements\n\nThis new release may contain forward-looking statements concerning the\nGreat Lakes Hydro Income Fund (\"Fund\") business and operations. Forward\nlooking statements can be identified by the use of words, such as \n\"long-term\", \"should\", \"will\", \"expected\", or variations of such words and\nphrases or state that certain actions, events or results \"will\" be taken,\noccur or be achieved. Forward looking statements involve assumptions, known\nand unknown risks, uncertainties and other factors which may cause the actual\nresults or performance to be materially different from any future result...