On June 23, 2009, Brookfield Renewable Power announced that it has entered into an agreement to sell its Ontario electric distribution business to FortisOntario Inc., a wholly owned subsidiary of Fortis Inc. (TSX: FTS), for C$68 million, subject to adjustment and increase for certain amounts. FortisOntario will acquire the distribution assets of Great Lakes Power Limited, which currently provides electric distribution service to approximately 12,000 customers in the Algoma District in northern Ontario. The transaction is subject to regulatory approvals, including the Ontario Energy Board, and is expected to close by the end of 2009. Brookfield Financial was Brookfield Renewable Power's adviser.
Brookfield Renewable Power Inc., wholly owned by Brookfield Asset Management Inc., is an owner, operator and developer of hydroelectric and wind power facilities with approximately 4,100 MW of capacity.
Further information is found on Brookfield's website.