Eagle Creek Renewable Energy has closed a $100 million equity financing for acquisition purposes.

Eagle Creek will use the money for acquisitions and development projects in the hydro power generation sector.

The financing is a joint investment from Power Energy Eagle Creek LLC and Macquarie Funds Management. Power Energy is a joint venture between Power Energy Corp., and Claridge Inc.

Eagle Creek, headquartered in Morristown, N.J., has closed several acquisitions of hydropower portfolios, most recently buying 10 plants in New York for an undisclosed amount. The company operates a total of 39 hydro plants in seven states.

Evercore Partners Inc. advised Eagle Creek on the transaction. 

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