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ArcLight Completes $2B Sale of Renewable Energy Platform Great River Hydro

ArcLight Completes $2B Sale of Renewable Energy Platform Great River Hydro

Private equity firm ArcLight Capital Partners announced the completion of its $2 billion sale of Great River Hydro, the largest conventional hydroelectric portfolio in New England, to Hydro-Québec.

The deal was first unveiled in October 2022. At the time, the Canadian electric utility said the purchase will diversify the revenue streams in its main export market and provide access to 30,000 acres of land for various renewable energy projects.

Boston-based 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, according to the company. In addition, it has developed a pipeline of organic solar, battery and hydro efficiency projects representing over 230 MW in qualified capacity.

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 along New England’s Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts.

TD Securities served as exclusive financial advisor to ArcLight, and Latham & Watkins served as legal advisor.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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