Hydro-Québec signals $2B acquisition of Great River Hydro in New England – Montreal

A subsidiary of Hydro-Québec declared on Wednesday it is acquiring Great River Hydro, which owns 13 hydroelectric ability stations in the northeastern United States, for US$2 billion.

Great River Hydro has a complete mounted capacity of 589 megawatts on the Connecticut and Deerfield rivers in the states of Vermont, New Hampshire and Massachusetts. It powers extra than 213,000 New England homes on a yearly basis.

Through its subsidiary HQI US Keeping, Hydro-Québec statements it is acquiring the greatest hydroelectric park in New England. The Quebec point out organization details out that in this area, the decarbonization and electrification aims are ambitious, and that electric power manufacturing is anticipated to increase noticeably.

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In a push launch, the President and CEO of Hydro-Québec, Sophie Brochu, claimed the acquisition would make it achievable to blend the know-how of the Quebec hydroelectric big in the management and advancement of methods with the thorough awareness Wonderful River Hydro’s New England marketplace, which has about 100 employees.

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Hydro-Québec is fully commited to keeping all of these work, as nicely as doing work disorders.

The acquisition of Great River Hydro is topic to customary approvals from state and federal regulatory businesses.

This write-up was 1st printed in French by The Canadian Press on Oct. 11, 2022.

© 2022 The Canadian Push

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