Great River Hydro, which is backed by ArcLight Capital Partners, has acquired TransCanada‘s New England hydroelectric power portfolio. No financial terms were disclosed.
BOSTON, April 20, 2017 /PRNewswire/ — ArcLight Capital Partners, one of the leading renewable energy investors in the United States, announced today that its affiliate, Great River Hydro, has closed its acquisition of TransCanada’s New England hydroelectric power portfolio.
With 13 facilities on the Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts, Great River Hydro’s 584 MW renewable power portfolio is the largest conventional hydro system in New England. The portfolio includes the 192 MW Moore facility, the largest conventional hydro station in New England, and 12 other facilities totaling 392 MW.
Based in Boston, Massachusetts, ArcLight has invested over $3.1 billion in renewable power assets, making it one of the most experienced owners and operators of renewable power in the United States. ArcLight also has over a decade of experience owning and operating hydroelectric power generation facilities in New England, including acquiring and operating 10 hydro facilities along the Penobscot, Union and Androscoggin rivers in Maine.
Great River Hydro is led by Scott Hall, a long-term portfolio executive of ArcLight with over 27 years of experience managing hydroelectric generating facilities and companies in the Northeast. Mr. Hall has been directly responsible for all facets of hydroelectric company operations, including employee management, environmental compliance, facility maintenance and operations, and business development activities. Mr. Hall has also been an active leader in a variety of stakeholder processes that addressed numerous socio-economic issues related to river flows, energy development and natural resource management.
About ArcLight Capital Partners
ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, we helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. We have invested approximately $18 billion in 103 transactions since inception. Based in Boston, our 30-person investment team employs a hands-on value creation strategy that utilizes our in-house technical, operational and commercial specialists as well as our 400-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight’s portfolio companies, can be found at www.arclightcapital.com.