Hydro-Québec buying U.S. company Great River Hydro for US$2 billion
Posted October 12, 2022 7:00 am.
Last Updated October 12, 2022 9:57 am.
A subsidiary of Hydro-Québec has signed a deal to buy U.S. power generator Great River Hydro LLC for US$2 billion.
The company owns 13 hydropower generating stations with a total installed capacity of 589 megawatts along the Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts.
The assets supply enough energy to power over 213,000 homes in New England.
Hydro-Québec says the acquisition will help diversify its revenue streams in its main export market.
Great River Hydro is being sold by affiliates of ArcLight Capital Partners LLC.
The transaction is subject to customary closing conditions, including regulatory approvals.
This report by The Canadian Press was first published Oct. 12, 2022.
The Canadian Press
