FirstLight Power has announced that the completion of its integration with Canadian hydropower company, H2O Power, will enable the Massachusetts-based clean energy company to expand its hydropower capacity and diversify its clean energy portfolio.
"We are thrilled to have completed the integration with H2O Power," said Alicia Barton, President and CEO of FirstLight Power. "This strategic move strengthens our position as a leading clean energy company in the Northeast and will allow us to expand our operations into Canada."
As part of the integration, FirstLight Power will acquire four run-of-river plants on the Niagara River in Ontario, increasing the company's hydropower capacity by over 400MW. The acquisition will complement FirstLight Power's existing portfolio of hydropower and solar assets in New England and New York.
"We are excited to welcome the H2O Power facilities into our portfolio of clean energy assets," said Barton. "Hydropower is a key part of our strategy to provide reliable and sustainable energy to our customers, and this acquisition will help us to achieve that goal."
The integration process involved the transfer of H2O Power's employees, assets, and operations to FirstLight Power. The two companies have been working closely together to ensure a smooth transition and minimal disruption to customers.
"This is a great opportunity for H2O Power to join a larger organization with a strong focus on renewable energy and sustainability," said Matt Lumley, President of H2O Power.
FirstLight Power and H2O Power have a combined portfolio of over 1,400MW of clean energy generation capacity and serve over 100,000 customers across the Northeast and Canada.
"This acquisition marks an important milestone for our company and positions us for continued growth and success in the clean energy industry," said Barton.
The acquisition of H2O Power's hydropower facilities is part of FirstLight Power's commitment to expanding its renewable energy portfolio and providing clean, sustainable energy to its customers.
