This article first appeared in the Financial Post
Former Canadian Hydro executive, founders to launch energy start up.
Carrie Tait August 24, 2010 – 2:15 pm
Kent Brown, along with the founders of Canadian Hydro Developers Inc., are about to reemerge with their eyes once again trained on renewable power projects.
John Keating, Ross Keating, and Mr. Brown, who was in charge of Canadian Hydro when it was picked off by TransAlta Corp. last year, are starting up a private company called BluEarth Renewables Inc., Mr. Brown told the Financial Post Tuesday.
“We will be focused on the acquisition, development, construction and operation of hydro, wind and solar projects in North America,” he said. “Our goal is to acquire some operating assets immediately, and also acquire well-advanced projects that are stuck lacking capital and experience.”
The trio has raised $85-million so far, and plan to launch Sept. 1. TransAlta Corp., a giant publically-traded power company known for its coal operations, acquired green power producer Canadian Hydro last October for $1.6-billion, or $5.25 per share. The deal started off hostile as TransAlta’s original $4.55 per share offer was rejected.