Citing a shift in priorities, Canadian Hydro Developers has terminated its previously announced definitive agreement with Wasatch Wind to acquire a subsidiary of Wasatch that is developing a 4,400 MW offshore wind prospect located in Lake Erie. Terms of the deal were not disclosed.
On Oct. 23, TransAlta Corp's acquired approximately 87% 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.
SOURCE: Canadian Hydro Developers
