Veresen selling power generation business for $1.18 billion

• 8 years ago (2017-02-22)
• David Flin

Hydropower 155

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Veresen of Canada has announced that it is selling its power generation business to several buyers for a total of $1.18 billion. The company did not identify the buyers in its announcement. The power assets will be sold in three separate packages, with closings expected during the second quarter.

Veresen said that the sales will help to fund capital projects in its core businesses. Veresen’s power business includes a combination of gas-fired, hydroelectric, wind, and other types of alternative energy sources across Canada and in the USA.