BluEarth Renewables draws investors
The level of investment isn't jaw-dropping, but it appears that renewable energy is back on the playing field. Clean tech and green energy were all the rage before the market crashed, and it looks like investors are becoming more lenient with their portfolios and open to hearing these stories again.
BluEarth Renewables isn't just any company. The management behind it came from former independent renewable energy player Canadian Hydro Developers Inc., which was bought by TransAlta Corp. BluEarth is run by Kent Brown, Canadian Hydro's former chief executive officer and the acquired company's co-founders, John and Ross Keating, are executive advisers.
Before Teachers' entered the fray, BluEarth had about $90-million in capital, mainly from ARC Financial. With the new investor on board, the company is looking to buy assets that are already generating power or close to completion.
As for geography, BluEarth previously said Alberta is one region the company will avoid, because the market is deregulated and prices are much too depressed right now.
Related News
First US coal plant in years opens where no options exist
WASHINGTON - One way to boost coal in the US: Find a spot near a mine with no access to oil or natural gas pipelines, where it’s not particularly windy and it’s dark much of the year.
That’s how the first coal-fired plant to open in the U.S. since 2015 bucked the trend in an industry that’s seen scores of facilities close in recent years. A 17-megawatt generator, built for $245 million, is set to open in April at the University of Alaska Fairbanks, just 100 miles from the state’s only coal mine.
“Geography really drove what options are available to us,”…
