- Associated Press - Wednesday, November 2, 2016

WILDER, Vt. (AP) - A Boston-based private equity firm has agreed to buy 13 TransCanada hydroelectric dams along the Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts.

The Valley News reports (https://bit.ly/2fhfZG0) an ArcLight Capital Partners’ affiliate, Great River Hydro, has agreed to acquire the New England dams. The terms of the deal were not disclosed.

In its announcement, ArcLight said the company plans to retain “all operational personnel” and assume the recently negotiated union contract. It said it also will continue to pursue federal relicensing of the Bellows Falls, Wilder and Vernon facilities.

ArcLight Capital Partners was co-founded by energy industry investor Daniel Revers, an alumnus of Dartmouth College Tuck School of Business. The announcement Tuesday came the same day the business school announced the creation of the Revers Center for Energy, named after Revers.

TransCanada bought the dams from USGen New England in 2005 and wanted to sell them to help finance the purchase of a pipeline. Vermont considered buying the dams, but officials said the purchase price, estimated at $800 million to $1.2 billion would be too steep.

The 13 hydroelectric stations and associated dams and reservoirs can produce a total of 560 megawatts of electricity.

ArcLight Capital says it has invested in more than $3.1 billion in “renewable power assets” in the U.S.


Information from: Lebanon Valley News, https://www.vnews.com



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