Brascan acquires generating. (Around: The North).

Brascan Power, the energy subsidiary of the Brascan Corp. conglomerate, announced earlier this month it is prepared to pay $30 million in cash to purchase the remaining 50 per cent of the Lake Superiro power generating plant in Sault Ste. Marie. The company will assume $35 million in debt to purchase the plant, once it gets required regulatory approvals. The deal facilitates the company's growth strategy of investing in high-quality, low-cost generating assets, and diversifies its power base, says an official with the company. The Toronto-based company is continuing its rapid expansion into the North American electrical generation business. Brascan operates, in conjunction with the Lake Superior power generating plant, 16 hydroelectrical plants in Northern Ontario, producing more than 940 megawattts of power.