JAY — A Canadian company finalized its acquisition of four hydropower stations along the Androscoggin River in this town, Livermore and Livermore Falls.

The four were among 63 around the U.S. bought by Ontario Power Generation from a New Jersey company on Nov. 28. The purchase price was $298 million and was subject to customary working capital and other adjustments on closing.

Ontario Power announced in August it had an agreement to acquire Eagle Creek Renewable Energy LLC, an operator of small hydropower facilities in the U.S.

Eagle Creek acquired the stations, which are associated with Verso’s Androscoggin paper mill in Jay, for $62 million in January 2016.

The hydroelectric facilities in the U.S. have 216 megawatts of in-service capacity, according to Ontario Power. The stations are in 13 states, primarily in the New England, New York and Midwest power markets.

The hydroelectric power produced at the facilities will be sold to customers in the U.S., Ontario Power spokesman Neal Kelly said previously.

Eagle Creek had 160 employees in the U.S., according to Ontario Power Generation’s release.

“As Ontario’s largest electricity generator, we have been stewards of hydropower assets for more than a century and we are proud to continue that legacy with this acquisition,” Mike Martelli, Ontario Power president, stated in a November release.

“We look forward to a path of continued growth and success with Eagle Creek.”

Ontario Power’s operations in Ontario will continue to remain a separate business.

Ontario Power Generation in Canada has finalized its acquisiton of Eagle Creek Renewable Energy’s 63 hydroelectric facilities in the U.S., including this one in Jay. (Sun Journal file photo)

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