UllicoInc. invested $50 million in an approximately 135-MW hydroelectricportfolio of Eagle CreekRenewable Energy LLC.
Eagle Creek plans to use proceeds of the mezzanine financingto expand its hydroelectric assets in the U.S., according to anOct. 7 news release. Ullico made the investment through Ullico InfrastructureFund.
Ullico, a labor-owned insurance and investment company, hadmade a similar investment in Eagle Creek in 2015.
Eagle Creek owns and operates 46 hydro facilities inIllinois, Michigan, Minnesota, New York, New Jersey, New Hampshire, Wisconsin,Maine, Massachusetts and Vermont.