Burrows Paper Corporation announced that it and the other owners of Lyonsdale Associates, LLC have sold their owners hip interests in Lyonsdale Associates to Cube Hydro New York LLC, a wholly-owned subsidiary of Cube Hydro Partners, LLC. Lyonsdale Associates owns and operates a 3 MW hydroelectric facility in Lyonsdale, N.Y., and is the general partner of Little Falls Hydroelectric Associates, which owns and operates the 13.6 MW Little Falls hydroelectric facility in Little Falls, N.Y. The Little Falls and Lyonsdale facilities have been generating clean electricity in Upstate New York since 1986.
“We are pleased to announce that Cube Hydro will assume control of the Lyonsdale and Little Falls facilities and will maintain Bill Burrows’ vision and commitment to sustaining theenvironment. We are extremely proud of our dedicated employees who have operated and maintained these facilities since they commenced commercial operations, and we are positive that Cube Hydro will continue this strong operating history,” said Rose Mihaly, President and Chief Operating Officer of Burrows Paper Corporation.
“Cube Hydro is excited to close on the acquisition of Lyonsdale Associates and assume control of the Lyonsdale and Little Falls hydro plants. We look forward to operating and maintaining these facilities to maximize the generation of clean electricity to businesses and residents of Upstate New York, and to being part of and involved in the local communities,” said Kristina Johnson, President and CEO of Cube Hydro.
John Collins, President of Cube Hydro New York, added, “We have been extremely impressed with the commitment of Burrows Paper Corporation and Lyonsdale Associates, and their employees to operate and maintain these plants at a very high standard to ensure the long-term generation of clean, renewable electricity. We are committed to maintaining these high standards to ensure the production of clean electricity for decades to come.”