This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

ContourGlobal Acquires Generation Company On The Island Of Bonaire

NEW YORK, May 19, 2013 /PRNewswire/ -- ContourGlobal announced today that it has acquired 100% of the shares of the company holding the wind and diesel power generation assets on the Dutch Caribbean island of Bonaire from the administrator of the company's shareholder.  The assets are the sole power generation facilities on the island of Bonaire and integrate renewable and conventional energy production sources to provide reliable power to the island's 16,500 inhabitants.

The Bonaire generation facilities, which integrate wind power, diesel generation and battery storage technology, provide all of the power needs of the island's distribution company, Water en Energie Bedrijf Bonaire (WEB), under a long-term supply contract.  WEB is the state-owned utility responsible for water and electricity transmission and distribution on the island.  The acquisition adds to ContourGlobal's growing presence in the Caribbean, where it owns power generation facilities in St. Martin, Guadeloupe and Colombia, as well as increases Contour's renewable energy portfolio, which currently comprises approximately 600 MW of wind, solar, biogas and biomass production in the Americas, Europe and Africa.

Mr. Joseph C. Brandt, President and Chief Executive Officer said, "Our acquisition in Bonaire culminates nearly one year of fruitful collaboration with the Government of the Netherlands and the Public Entity of Bonaire to ensure that the existing facilities were acquired by a company committed to meet the island's growing electricity needs in a sustainable way.  We have been greatly impressed by the caring professionalism of the Dutch and Bonaire authorities as well as from Mr. Deterink, the administrator of the Company's shareholder and look forward to working with the Dutch and Bonaire authorities and WEB to add additional wind and solar powered generation to Bonaire's energy matrix." 

The Netherlands Ministry of Economic Affairs states, "We congratulate ContourGlobal and the seller of Ecopower on the successful transaction.  We are confident that under new ownership, ContourGlobal Bonaire will continue to develop the island's generation in a way that maximizes the share of wind and other renewables.   The Ministry looks forward to cooperating with Contour Global and WEB Bonaire to find new ways to put the elements, both wind and sun, to optimal use in energy production, while simultaneously guaranteeing a reliable energy supply."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs