[spm2013]

Central Heat of Vancouver acquired by Creative Energy Canada

Posted on November 23, 2013 by districtenergy


The British Columbia Utilities Commission has approved the sale of Central Heat Distribution Ltd. (CHDL) of Vancouver, BC to Creative Energy Canada Platforms Corp. of Vancouver.

Central Heat is a long time member of the International District Energy Association (IDEA), founded in 1968 by Jim Barnes and his colleagues. Barnes was an IDEA Norman R. Taylor Award winner in 1991—IDEA’s tribute to its “Person of the Year,” and the top honor IDEA can confer on an individual, recognizing that person’s lifetime achievements and contributions to the district heating and cooling industry. Jim Barnes was succeeded by his son, John Barnes, as CEO of District Heat Distribution Ltd.

To effect the acquisition, Creative Energy will purchase all issued and outstanding common shares of CHDL stock, which will result in CHDL becoming a direct, wholly owned subsidiary of Creative Energy. The amount was not disclosed.

In its concluding Order (Order Number G-190-13), the Commission noted that Creative Energy held that the acquisition of CHDL will not result in adverse change or detrimental effect on CHDL’s existing customers or how current steam service is provided to existing customers and that it will not seek to recover any of the acquisition premium or transaction costs incurred in connection with the sales transaction from CHDL’s customers. The Commission also noted that no interveners have submitted any information requests or made submissions to express opposition to the acquisition.

http://www.districtenergy.org/blog/2...energy-canada/

Their website:

http://creativeenergycanada.com/