On February 22, 2017, Sammons Renewable Energy (“SRE”) purchased Sorgent.e Hydro Canada Corporation, a hydroelectric developer in British Columbia.
Pursuant to the transaction, SRE acquired two projects totaling 21 MW with long term Energy Purchase Agreements with BC Hydro as part of the purchase. Two additional projects totaling 21 MW have been assigned energy volumes under BC Hydro’s Standard Offer Program.
SRE, a wholly owned subsidiary of Sammons Enterprises, Inc., invests in renewable energy projects in the US, Canada, and Mexico. The company identifies solar, wind and hydro-related development opportunities over a minimum threshold of $40 million in value.
Miller Thomson advised SRE in this acquisition with a team that was led by Charles Bois and that included Shashi Malik and Bryant Frydberg (tax) and Brendan Burns (corporate/M&A).
