Weil, Gotshal & Manges Advises Brascan Power Inc. in Purchase of Four Hydroelectric Plants, in Transactions Totaling $73 Million
January 31 2005 - 1:29PM
PR Newswire (US)
Weil, Gotshal & Manges Advises Brascan Power Inc. in Purchase
of Four Hydroelectric Plants, in Transactions Totaling $73 Million
NEW YORK, Jan. 31 /PRNewswire/ -- Weil, Gotshal & Manges LLP,
one of the world's leading law firms, advised Brascan Power Inc., a
subsidiary of Brascan Corporation (NYSE:BNNNYSE:TSX:NYSE:BNN.LV.A),
in the acquisition of four hydroelectric generating facilities,
with a total capacity of nearly 71 megawatts. Brascan Power has
acquired the leasehold interests in two facilities from Delta Power
Company, LLC, in a transaction valued at $31.4 million, including a
cash purchase price of $19.4 million, subject to certain
adjustments, and $12 million of assumed debt. Hydro Kennebec is a
15.4 megawatt plant located on the Kennebec River in Winslow, Maine
and interconnected with the New England power grid. West Delaware
is a 7.5 megawatt facility located in Grahamsville, New York and
interconnected with the New York power grid. Brascan Power has also
entered into an agreement to acquire two hydroelectric generating
facilities totaling 48 megawatts of capacity from Reliant Energy,
Inc. for $42 million. The Piney station is a 28 megawatt facility
located on the Clarion River in Pennsylvania and the Deep Creek
station is a 20 megawatt facility located on the Youghiogheny River
in Maryland. Both facilities are part of the Pennsylvania, New
Jersey and Maryland (PJM) electricity market. Weil, Gotshal &
Manges LLP is an international law firm of more than 1,200
attorneys, including approximately 300 partners. Weil Gotshal is
headquartered in New York, with offices in Austin, Boston,
Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami,
Munich, Paris, Prague, Shanghai, Silicon Valley, Singapore, Warsaw,
Wilmington and Washington, D.C. Weil, Gotshal & Manges LLP
Corporate Partners: Simeon Gold (New York); Steven M. Peck (Boston)
Associates: Paul D. Fasciano, Bryan Mignone, Bettina de Catalogne,
John Longobardo (New York) Real Estate Partner: Philip Rosen (New
York) Associate: David A. Berlyne (New York) Tax Partner: Helyn
Goldstein (New York) Associate: Max A. Goodman (New York) Employee
Benefits Partner: Andrew Gaines (New York) Associate: Christina Y.
Lee (New York) Labor Counsel: Lawrence Baer (New York) Associates:
Kenneth Gavsie, Caroline H. Lee (New York) Environmental Partner:
Annemargaret Connolly (Washington, D.C.) Associates: John
O'Loughlin, Daniel W. Hurson (Washington, D.C.) Litigation
Associate: Christine P. Hsu (Washington, D.C.) DATASOURCE: Weil,
Gotshal & Manges LLP CONTACT: Robin Wagge of Rubenstein
Associates, +1-212-843-8006, or , for Weil, Gotshal & Manges
LLP Web Site: http://www.weil.com/
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