Algonquin Power Renews $142m Loan Facility
The loan reports from Algonquin Power & Utilities Corp. has received permission to extend a $ 142 million revolving credit facility put down three years, thus the next step in its plans to buy two utilities in New Hampshire to take. Wholly owned subsidiary Algonquin, Liberty Co. energy companies, announced December 9 that it was looking for all the issued and outstanding shares of Granite State Electric Company of Salem and north Energy Natural Gas Inc., subsidiaries of National Grid, to acquire for $ 285 million.
The extension of this facility is an important element of our capital to support our business and a strong investment grade capital to maintain. Our recent announcements debt financing, including the renewal of this facility, APUC demonstrate strong support in the capital for our business plans and growth initiatives.” Granite State Electric Energy and north serve a combined 126,000 customers in New Hampshire.
Algonquin currently possesses a number of hydroelectric plants in New Hampshire, including Gregg Piscataquog Falls on the river in Goffstown, Mine Falls on the Nashua River in Nashua, as well as provisions on the Salmon River in Milton, the Suncook River in Pembroke, and different on the Winnipesaukee River in Loch Mere, Tilton, Franklin and Lakeport.