| Work Detail |
Hydromega owns hydropower assets and also has a 2GW pipeline of wind, solar, storage and hydro
FirstLight has completed the acquisition of Canadian renewable energy operator and developer Hydromega.
The completion of acquisition, which was initially announced and agreed upon in September 2023, will include ownership interest in 10 hydropower generating stations, comprising five in Quebec and five in Northeastern Ontario.
In addition, FirstLight will add Hydromega’s development pipeline, which includes over 2GW of wind, solar, storage, and hydroelectric projects, doubling its total development pipeline to over 4GW in the US and Canada.
Commenting on the significance of this acquisition, FirstLight CEO Justin Trudell, said: “The combining of our seasoned teams, paired with the addition of significant development capabilities and operational assets to FirstLight’s existing diversified renewables and energy storage portfolio, has us ideally positioned to support the growing need for new and expanded clean capacity across the Northeast US, Québec, Ontario, and beyond.
We look forward to hitting the ground running as a unified team to advance our mission to decarbonise electrical grids across North America.”
The addition of Hydromega’s operating assets grow FirstLight’s combined operating capacity to over 200MW in Quebec and Ontario.
In addition to significant operational and development assets, FirstLight also gains over 40 team members. |
