ArcLight closes USD-2bn sale of Great River Hydro to Hydro-Quebec

Private equity firm ArcLight Capital Partners LLC on Tuesday announced the completion of the previously-disclosed sale to Hydro-Quebec of Great River Hydro LLC, which holds the largest conventional hydroelectric portfolio in New England.

The deal, with a total value of about USD 2 billion (EUR 1.86bn), was first unveiled in October 2022. At the time, the Canadian electric utility said that the purchase will diversify the revenue streams in its main export market and also provide access to 30,000 acres of land for various renewable energy projects.

Great River Hydro owns 13 cascading hydroelectric power plants with a total capacity of 589 MW and some co-located battery storage and solar developments. They are located along New England's Connecticut and Deerfield rivers in the states of Vermont, New Hampshire, and Massachusetts.

ArcLight owned Great River Hydro for about five years during which it undertook certain enhancements that added 29 GWh of annual generational capability and 8 MW in qualified capacity. Furthermore, it said it has developed a pipeline of organic solar, battery and hydro efficiency projects representing over 230 MW in qualified capacity.

(USD 1.0 = EUR 0.932)

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