Canadian Hydro ends offshore prospect agreement
CALGARY, ALBERTA - Canadian Hydro Developers, Inc. has terminated its previously announced definitive agreement with Wasatch Wind, Inc. to acquire a subsidiary of Wasatch that is developing a 4,400 MW offshore wind prospect located in Lake Erie.
Wasatch is a private U.S.-based renewable energy company. Terms of the Agreement remain confidential.
On October 23, TransAlta Corporation's acquired approximately 87 per cent of the outstanding common shares of Canadian Hydro. Canadian Hydro now believes that based on the growth opportunities available, off shore wind is not a priority at this time.
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