Business

Hydro-Quebec completes acquisition of Great River Hydro and 13 stations

Hydro-Quebec reports that the acquisition of Great River Hydro LLC owner of 13 hydroelectric generating stations in New England is now complete.

HQI US Holding LLC, a wholly-owned subsidiary of Hydro-Québec, acquired the company from ArcLight Capital Partners LLC after all required regulatory approvals were obtained, including from the Vermont Public Utilities Commission (PUC) and Federal Energy Regulatory Commission (FERC).

The Great River Hydro hydroelectric plants — located on the Connecticut and Deerfield rivers in the U.S. states of Vermont, New Hampshire and Massachusetts — constitute the largest hydroelectric park in New England, according to a release. New England is “a region where the objectives of decarbonization and electrification projects are ambitious and where the production of electricity from variable renewable sources is expected to increase considerably,” Hydro-Quebec said.

Great River Hydro owns 13 cascading generating stations and three additional reservoirs over about 310 miles along the two rivers. Total generating capacity is 589 MW. One-fifth of this production is subject to long-term supply contracts. And the company owns 30,000 acres of land, which Hydro-Quebec said allows for “various renewable energy growth projects.”

Hydro-Québec has exported hydroelectricity to New England since the 1980s. This acquisition is expected to allow it to combine hydroelectric resource management and development expertise with Great River Hydro’s knowledge of the New England market. “By joining forces, we will be able to support the deployment of new means of renewable production, in a market where these are in very high demand,” Sophie Brochu, president and chief executive officer of Hydro-Québec, said in October 2022.

Hydro-Québec generates, transports and distributes electricity. It is Canada’s largest electricity producer and one of the largest hydroelectric producers in the world. Its sole shareholder is the Quebec government.