HQI US Holding, a subsidiary of Canadian energy utility Hydro-Québec, has agreed to acquire Great River Hydro for around $2 billion. With a total installed capacity of 589 MW, Great River Hydro has 13 hydropower generating facilities. These are located along New England’s Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts. In New England, the hydropower fleet has the capacity to supply electricity to more than 213,000 homes.
The company will be purchased by Hydro-Québec from ArcLight Capital Partners’ affiliates. With this agreement, Hydro-Québec will acquire New England’s largest hydropower fleet. The agreement will allow the company to diversify its revenue in its primary export market. Its completion is subject to customary closing conditions being met, including regulatory approvals. According to Hydro-Québec, Great River Hydro will continue to operate as a distinct business entity with all of its current employees.
In April 2022, Boralex partnered with Énergir and Hydro-Québec to develop three 400 MW wind projects in Seigneurie de Beaupré territory in Quebec, Canada. The three companies would collaborate on the development of these projects through their affiliates. The proposed projects are Des Neiges Wind Farm – South, Des Neiges Wind Farm – Charlevoix, and Des Neiges Wind Farm – West, which would be located near the existing Seigneurie de Beaupré wind farms.