WASHINGTON–(BUSINESS WIRE)–Franklin Park Investments, the management company for Sammons RenewableEnergy (SRE), announced today it would manage assets acquired fromSorgent.e Hydro Canada Corporation (SHC) on behalf of SRE. Theacquisition includes two projects totaling 21 MW with long term EnergyPurchase Agreements with BC Hydro as part of the purchase. Twoadditional projects totaling 21 MW have been assigned energy volumesunder BC Hydro’s Standard Offer Program.
“Hydroelectricity is an excellent asset class for long term investorssuch as Sammons Renewable Energy,” commented Tom Tribone, the ChiefExecutive Officer of Franklin Park, SRE’s management partner. “Ourobjective is to progress these projects rapidly toward construction in amanner consistent with the interests of all stakeholders. In parallelwith early stage construction we will also be arranging $150 million ofproject level financing.”
“Franklin Park has been instrumental in Sammons Renewable Energy’sability to execute on our strategy to move into the renewables market inNorth America,” said Heather Kreager, Chief Executive Officer of SammonsEnterprises, the parent company of Sammons Renewable Energy. “We plan tocontinue to work with Franklin Park to evaluate opportunities similar tothe Sorgent.e. deal to expand our renewable energy portfolio.”
The deal closed on February 22, 2017. Americas Energy Services wasinvolved in the deal providing technical services to SRE. Miller Thomsonprovided legal advice.
About Franklin Park
Franklin Park Investments, http://www.franklinparkinvestments.com,provides energy and infrastructure services in major global markets,including North and South America, Europe and Asia. Franklin Park’sactivities include conventional and renewable electricity generation,electric distribution, rail and road transport and supply chainlogistics. Franklin Park manages SRE, with an investment focus on wind,solar and hydroelectric generation in North America.
About Sammons Renewable Energy
Sammons Renewable Energy invests in renewable energy projects in theU.S., Canada, and Mexico. The company identifies solar, wind andhydro-related development opportunities over a minimum threshold of $40million in value. Sammons Renewable Energy is a wholly owned subsidiaryof Sammons Enterprises, Inc. Sammons Renewable Energy’s investments aremanaged by Franklin Park Investments.
About Sammons Enterprises
Sammons Enterprises, Inc. is a diverse holding company composed offinancial services, industrial equipment, real estate investment, andinfrastructure businesses operating in three countries. Headquartered inDallas, Texas (US), Sammons was established in 1938. With more than $5billion in annual revenues and $75 billion in assets, it is one of thelargest privately held companies in the U.S. For more information, visit sammonsenterprises.com.
About Americas Energy Services
Americas Energy Services provides due diligence, technical, projectmanagement and operations services to the utility industry andinvestors. Areas of expertise encompass all aspects of hydroelectricprojects including civil and electrical engineering, design, procurementand management.