Hydro-Quebec to acquire Great River Hydro for $2B

  • One of Great River Hydro’s hydropower generating plants on the Deerfield River in Buckland. Staff Photo/Paul Franz

  • One of Great River Hydro’s hydropower generating dams on the Deerfield River in Buckland. Staff Photo/Paul Franz

  • One of Great River Hydro’s hydropower generating dams above the Glacial Potholes in Shelburne Falls. Staff Photo/Paul Franz

Staff Writer
Published: 10/17/2022 6:05:33 PM

A Canadian firm owned by Quebec’s provincial government is expected to spend more than $2 billion to purchase Great River Hydro, which owns 13 hydropower generating stations along New England’s Connecticut and Deerfield rivers.

Hydro-Quebec has entered into an agreement to acquire Great River Hydro, being sold by affiliates of ArcLight Capital Partners. The deal will likely be completed in the next few months, following regulatory approval. According to Brandon Kibbe, director of business development and legislative affairs for Great River Hydro, Hydro-Quebec will allow the American company to stay its course.

“We expect to feel very little change,” he said, adding that there will be no layoffs for the company’s 100 skilled employees. “Everything right down to our logo and email address will stay the same.”

Great River Hydro bills itself as New England’s largest producer of conventional hydropower, which Kibbe explained means using the power of flowing water to generate electricity. Its Deerfield River facilities include the Sherman Dam and Station in Rowe and Monroe, another dam in those two towns, a facility in Shelburne and Conway, and two in Buckland and Shelburne. Great River Hydro, which also operates three storage-only reservoirs, annually supplies enough energy to power more than 213,000 homes in New England.

Hydro-Quebec spokesperson Lynn St-Laurent said it’s not often that a chance comes around to acquire a company with Great River Hydro’s experience and reputation.

“For us, it really is a unique opportunity to join forces, combine our know-how,” St-Laurent said, noting this is a long-term investment for Hydro-Quebec.

Scott Hall, Great River Hydro’s president and CEO, said there is likewise a great deal of excitement about joining Hydro-Quebec.

“Their deep knowledge of the hydroelectric industry and long history in the New England market gives us tremendous confidence that Great River Hydro is an ideal fit,” he said in a statement. “We look forward to continuing to provide clean, renewable hydroelectricity to our New England neighbors for years to come.”

Kibbe, who works at Great River Hydro’s corporate headquarters in Westborough, said morale is very high throughout the company. “It’s really exciting news,” he said.

Reach Domenic Poli at dpoli@recorder.com or 413-772-0261, ext. 262.
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