acquisition

TransAlta Renewables, through a wholly owned subsidiary of TransAlta, will acquire the economic interest in a 144-MW wind farm in Wyoming for approximately US$102 million from an affiliate of NextEra Energy Resources. The wind farm is fully operational and contracted under a long-term PPA until 2028 with an investment grade counterparty. The acquisition is subject to regulatory approvals and is expected to close by the end of December 2013.

Finding that the proposed deal will bring “significant, tangible benefits” to jurisdictional ratepayers, the New York Public Service Commission approved the acquisition of CH Energy Group Inc. by Newfoundland-based Fortis Inc. CH Energy Group is the parent company of Central Hudson Gas & Electric Corporation, while Fortis is a utilities holding company with numerous subsidiaries and assets throughout Canada, Central America, and the Caribbean.

TRC Companies acquired Georgia-based Utility Support Systems (USS), a professional engineering company primarily supporting the power/utility market. Financial terms of the agreement were not disclosed. USS reported net revenues of $11.5 million in 2012. TRC expects the transaction to be earnings accretive in fiscal 2014.

Direct Energy reached an agreement to acquire Bounce Energy, a privately-held retail electricity provider based in Houston, for $46 million in cash plus additional working capital. 
Bounce Energy provides full-service electricity to more than 80,000 residential and small business customers in Texas, Pennsylvania and New York.

ClearEdge Power, a manufacturer of scalable, distributed power systems, has closed on its acquisition of UTC Power, the fuel-cell production subsidiary of United Technologies Corp.