M&A Deal Summary

Hydro-Québec Acquires Great River Hydro

On February 10, 2023, Hydro-Québec acquired renewable energy company Great River Hydro from ArcLight Capital Partners for 2.0B USD

Acquisition Highlights
  • This is Hydro-Québec’s 1st transaction in the Renewable Energy sector.
  • This is Hydro-Québec’s largest (disclosed) transaction.
  • This is Hydro-Québec’s 1st transaction in the United States.
  • This is Hydro-Québec’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2023-02-10
Target Great River Hydro
Sector Renewable Energy
Buyer(s) Hydro-Québec
Sellers(s) ArcLight Capital Partners
Deal Type Add-on Acquisition
Deal Value 2.0B USD

Target

Great River Hydro

Westborough, Massachusetts, United States
Great River Hydro is a renewable energy infrastructure platform that represents the largest conventional hydroelectric portfolio in New England. The Company owns 13 hydroelectric generating stations with a total capacity of 589 megawatts along New England's Connecticut and Deerfield rivers, as well as a portfolio of co-located battery storage and solar development projects. Great River Hydro is based in Westborough, Massachusetts.

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Buyer(S) 1

Buyer

Hydro-Québec

Montréal, Quebec, Canada
Category Company
Sector Renewable Energy
DESCRIPTION

Hydro-Québec generates, transmits, and distributes electricity. It exports clean, renewable power and commercializes its expertise and innovations on world markets. Hydro-Québec is based in Montréal, Quebec.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

ArcLight Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2001
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ArcLight Capital Partners is private equity firm that invests in energy assets and businesses. Specific areas of interest include power generation; oil, natural gas, coal extraction and production; midstream gathering, processing, storage and transportation of oil, natural gas, coal; energy transportation; and energy distribution companies. ArcLight's geographic coverage includes opportunities across North America, Western Europe, and Australia/New Zealand. ArcLight was formed in 2001 and has offices in Boston and Luxembourg.

DEAL STATS #
Overall 27 of 28
Sector (Renewable Energy) 5 of 5
Type (Add-on Acquisition) 9 of 9
State (Massachusetts) 3 of 3
Country (United States) 25 of 26
Year (2023) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Elevate Renewables

Boston, Massachusetts, United States

Elevate Renewables is a national developer focused on the development of utility scale battery storage resources co-located with existing power infrastructure. Elevate is devoted to supporting the nationwide increase in renewable penetration while also directly reducing the environmental footprint of the power sector through the deployment of carbon-neutral resources. Elevate Renewables is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Sunrise Power Holdings

Fellows, California, United States

Sunrise Power Holdings provides 586 megawatts of critical generation and reliability services to California's Central Valley. Sunrise Power Holdings is based in Fellows, California.

Sell -
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