WILDER, Vt. — A Boston-based private equity firm features consented to purchase 13 TransCanada hydroelectric dams along the Connecticut and Deerfield rivers in Vermont, brand new Hampshire and Massachusetts.
The Valley Information reports an ArcLight Capital Partners’ affiliate marketer, Great River Hydro, has decided to find the brand new The united kingdomt dams. The terms of the offer are not revealed.
With its statement, ArcLight said the company plans to keep “all working personnel” and assume the recently negotiated union agreement. It stated it also will continue to pursue national relicensing of this Bellows Falls, Wilder and Vernon services.
ArcLight Capital Partners ended up being co-founded by energy business buyer Daniel Revers, an alumnus of Dartmouth university Tuck School of Business. The statement Tuesday arrived the exact same time the business school announced the creation of the Revers Center for Energy, known as after Revers. ArcLight’s properties include Milford, Maine-based Ebony Bear energy, that has 70 MW of installed hydroelectric capicity in Maine.
TransCanada bought the dams from USGen brand new The united kingdomt in 2005 and desired to offer them to help finance the purchase of a pipeline. Vermont considered purchasing the dams, but officials stated the acquisition cost, calculated at $800 million to $1.2 billion will be also steep.
The 13 hydroelectric stations and connected dams and reservoirs can produce an overall total of 560 megawatts of electrical energy.