Brascan changes name to Brookfield Power

Brascan Power, the owner and operator of the former Great Northern Power Co. hydroelectric dams, has assumed the name of Brookfield Power. The Millinocket facilities will take that name sometime this winter. Brookfield and Brascan had previously been affiliated companies, both having headquarters in Gatineau, Quebec.

Meanwhile, Brookfield has purchased two hydroelectric facilities that generate about 40 megawatts of power from Rumford Falls Power Co., which is owned by NewPage Corp., for $144 million. The run-of-the-river facilities are located on the Androscoggin River.

“We continue to strengthen our geographic presence in the Northeast. The addition of these high-quality facilities, located on a river on which we currently operate eight other hydro-facilities, is an excellent fit,” said Harry Golgut, co-chairman and CEO of Brookfield Power.