Orillia Power Generation Corporation (OPGC) has finalized a deal to acquire 100% of Shaman Power Corporation (Shaman) for $11 million.
OPGC is the electricity generation division of Orillia Power Corporation (OPC) which is wholly owned by the City of Orillia.
OPGC has been in the business of generating clean, renewable electricity for over 100 years.
It sells all of the electricity that it generates into the Ontario power grid, pursuant to long-term contracts.
Shaman has been in the waterpower business for over 25 years and operates three generating stations located in Fenelon Falls, Elora and Marmora.
This acquisition adds to OPGC’s three existing Ontario waterpower stations (Swift Rapids, Minden and Matthias) that have a combined capacity of 15.5 MW. OPGC also owns and operates 2.5 MW of solar assets located in Orillia and Cobourg. The addition of three new waterpower facilities to OPGC’s portfolio of renewable generation assets, supports the growth of the organization in its area of core competency.
For more details on the deal, please click here.
https://twitter.com/cityoforillia/status/1311781714683977729