Hydroméga Services Inc. concludes the acquisition of Cochrane Power Corporation

Hydroméga Service Inc. (HSI) concluded today the acquisition of 100% of the outstanding shares of Cochrane Power Corporation (CPC), which assets include the 42 MW cogeneration facility located in Cochrane, Ontario, the surrounding lands and the 115kV transmission line connecting the plant to the provincial grid. The facility, which is equipped with a 27MW gas turbine and a 15MW steam turbine, has been idle since 2015 when its power purchase agreement expired. Its very good condition will however allow a quick restart when the market conditions improve. The onsite natural gas pipeline also offers opportunities for Distributed Gas Solutions Canada (DGSC) and its liquified natural gas (LNG) solutions tailored for mines, remote communities and transportation. HSI is a shareholder of DGSC together with two other shareholders.