Sarnia's Bluewater Power is now the owner of Tecumseh-based renewable energy company Unconquered Sun.
The deal took effect January 1 and while Unconquered Sun Founder Sean Moore wouldn't give a sale price, he says his company has already seen benefits of the acquisition with five new hires.
"It's going to give our employees good jobs, probably better pay, pensions, benefits and it just underpins our longevity in terms of warranty and the fact that we'll be around for years and years to come," says Moore, adding the deal is the first time a public utility corporation has bought a renewable energy company in Ontario. "You're seeing this more often. [Utility corporations] are really trying to make their peace with how to deal with renewable energies."
Moore says staff will commute back and forth between the Tecumseh and Sarnia locations while Unconquered Sun will also be required to provide monthly revenue reports to Bluewater Power.