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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