VANCOUVER, British Columbia, Canada 2/16/11 (PennWell) —
Innergex Renewable Energy Inc announced it will buy privately-owned Cloudworks Energy Inc for C185 million (US187 million), expanding its hydroelectric power assets in the Canadian province of British Columbia.
The acquisition will help diversify the assets of Innergex, a small Canadian renewable energy producer, which operates run-of-river hydro projects and wind farms mostly in its home province of Quebec.
Cloudworks, which employs 30 people, owns a 50.01 percent stake in six run-of-river hydroelectric facilities with a combined gross installed capacity of 150 MW, news agencies reported.
Jackie Hamilton has held various positions with Cloudworks since 1998, including Regulatory Advisor, Vice President, Environmental & Regulatory, and now is focusing exclusively on Policy Initiatives with the Cloudworks Executive Team, including working on industry initiatives as Chair of the Hydro Committee of IPPBC. Her background is in various BC government environmental assessment and regulatory management positions, and, as a consultant, assisting with approvals and consultation for numerous major projects in BC. She obtained the approvals for ten Cloudworks projects, seven of which are in operation.