Hydro-Québec has announced the US$2 billion acquisition of Great River Hydro (GRH), LLC, which owns 13 hydropower generating stations with a total installed capacity of 589 MW AC along New England’s Connecticut and Deerfield rivers in the states of Vermont, New Hampshire and Massachusetts, USA through its wholly-owned subsidiary HQI US Holding LLC.

Great River Hydro is being sold by affiliates of ArcLight Capital Partners. The transaction involves the acquisition of a hydroelectric park in New England, which aims to decarbonize and electrify. The purchase represents an opportunity to balance the intermittency of wind and solar power for the coming years, to support the development of new projects in the field of renewable energy in the market and the possibility of increase the amount of electricity from variable renewable energy sources. 

The deal will allow Hydro-Québec to diversify its revenue streams in its main export market and generate additional revenue for Hydro-Québec in its first year.