Thursday, May 12, 2011

Sprott Power Corp. to sell British Columbia hydro projects to unnamed buyer

Canadian renewable energy project-operator Sprott Power Corp. says it has signed a non-binding letter of intent to sell its northwestern British Columbia hydro projects. The company didn't name the buyer or the selling price.

The sale would include the 30 megawatt Anyox Creek Hydroelectric Project and other nearby hydro projects.

"Our counterparty is prepared to invest the time and efforts going forward to successfully develop (Anyox Creek)," said Jeff Jenner, president and CEO of Sprott Power, in a statement.

The sale is expected to close by June 30.

Sprott's assets currently include 28 wind turbines in Nova Scotia and Ontario.

Sprott Power Corp. currently has a near-term project under development in Saskatchewan with the provincial utility, SaskPower.

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