SkyPower Closes on Investment from Lehman Brothers

New York and Toronto, Ontario [] SkyPower Corp. a Canadian renewable energy companies with a portfolio of wind and solar projects across Canada, has announced that Lehman Brothers and its Private Equity business have acquired a significant equity stake in the company. The transaction closed on Monday, June 11 and includes an up-front acquisition payment, commitments to future project financing as well as other investment opportunities in the renewable energy sector. The current SkyPower management team, led by its Founder and Chief Executive Officer, Kerry Adler, will continue to be responsible for and oversee all ongoing day-to-day operations as well as the strategic direction of the company. Terms of the transaction were not disclosed.
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