Hydro-Quebec Seals $2 Billion Deal to Buy New England Power Firm
- Price tag includes assumption of about $750 million in debt
- It will be the largest acquisition in Hydro-Quebec’s history
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Canada’s Hydro-Quebec agreed to buy Great River Hydro LLC and its 13 hydroelectric generating stations in a $2 billion deal, expanding its footprint in the northeastern US where it’s been supplying electricity for decades.
Hydro-Quebec, owned by Quebec’s provincial government, is buying the assets from ArcLight Capital Partners LLC, according to a statement Wednesday. The stations along the Connecticut and Deerfield rivers have 589 megawatts of capacity, enough to power over 213,000 homes in Vermont, New Hampshire and Massachusetts, the companies said.